How General Partnership usually obtains capital, if needed?
What will be an ideal response?
Ans: Capital contributions from general partners; business loans from banks backed by partnership and personal assets.
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Which of the following types of humor would be acceptable internationally?
a. humorous stories about golfers b. cartoons depicting differences in minorities c. jokes about sex d. humorous stories comparing religions
Which of the following statements about pension funding agencies and funding instruments is true?
A) Under a trust-fund plan, individual annuities are purchased each year for employees participating in the plan. B) A separate investment account is a group pension account with a life insurance company. C) If the funding instrument is a commercial bank, the plan is called an insured plan. D) Under a guaranteed investment contract, the insurer guarantees the principal of a lump sum deposit but does not guarantee the interest rate.