Small to-do lists on slips of paper are now thought to be less efficient than entering to-do lists on a daily calendar

Liabilities are economic resources that are expected to benefit the business in the future.

a. true b. false

Which of the following is a difference between a Subchapter S corporation and a limited liability company?

A) A Subchapter S corporation has no limitation on number of members, whereas a limited liability company limits ownership interests to no more than 35 shareholders. B) In a Subchapter S corporation, each owner has unlimited personal liability for debts of the organization, whereas in a limited liability company, liability of the owners is limited to loss of capital contribution. C) In a Subchapter S corporation, profits are taxed to owners as ordinary income and losses are deducted by them, whereas in a limited liability company, profits are taxed as income to corporation and again as income to owners when distributed as dividends. D) A Subchapter S corporation does not allow the owners control over daily management decisions, whereas a limited liability company does.