Which of the following is true of a limited liability company?
A) It is taxed as a corporation and not as a partnership.
B) It is taxed under state laws and not under federal laws.
C) Its members cannot exercise any control over the daily management.
D) It can have any number of members.
D
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Project planners develop a broad definition of what the project is and what its scope will be during the:
A) concept phase. B) project definition phase. C) planning phase. D) performance phase.
New York Investments (NYI), an investment banking firm, has proposed two types of payment plans for the IPO being considered by Albany Exploration
The first is a firm commitment of $40,000,000. The second is a best efforts arrangement in which NYI will receive $2.00 for every share sold up to a maximum of $3,600,000 for the 1,800,000 shares being offered. How much money will NYI earn under the firm commitment method if it is able to sell only 95% of the offering at a price of $25.00 per share? A) $800,000 B) $1,080,000 C) $2,200,000 D) $2,750,000