Generally, short-term debt securities issued by large corporations, also known as commercial paper, offer a slightly higher return than Treasury bills

Which of the following is true about a corporation being a general partner in a limited

partnership? A) A corporation can be a general partner in a limited partnership even if it is the only general partner. B) A corporation cannot be a general partner in a limited partnership. C) A corporation can be a general partner in a limited partnership only if it is not the sole general partner in the limited partnership. D) A corporation can be a general partner in a limited partnership only if there is at least one other general partner that is not a corporation.

Your new firm just purchased a storage building and property for $40,000 that was paid for with a $20,000 long-term loan and a new infusion of $20,000 from the owners. Which of the following accounting entries is most appropriate?

A) $40,000 increase in plant, property and equipment, a $20,000 decrease in long-term debt, and a $20,000 decrease in owners equity. B) $40,000 increase in plant, property and equipment, a $20,000 increase in long-term debt, and a $20,000 increase in owners equity. C) $40,000 increase in cash and a $40,000 increase in plant, property, and equipment. D) $40,000 increase in plant, property and equipment and a $40,000 increase in cash.