A factory machine was purchased for $60,000 on January 1, 2006. It was estimated that it would have a $12,000 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 40,000 hours in the 5 years. The company ran the machine for 4,000 actual hours in 2006. If the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2006 would be

Which is true for a limited liability partnership (LLP)?

(A) All partners are free from liability. (B) All partners have personal liability. (C) All partners are required to be general partners. (D) All partners are limited from personal liability in certain situations.

Targeted franchising is a form of licensing in which franchisees in the targeted countries are allowed to use the franchisor's name in exchange for a percentage of the gross profits

Indicate whether the statement is true or false