Which of the following is true of compensation offered by an LLC (limited liability company)?
A) Managers of an LLC are entitled to compensation and not benefits.
B) Members are not entitled to compensation for their services toward the LLC.
C) Members are not indemnified for liabilities in the ordinary course of business.
D) A nonmember manager of an LLC is not entitled to compensation.
D
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At Joe's Pool Hall they rent tables by the hour and also rent Balabushka pool cues for purists that can't afford their own. The rental process for these cues is exhaustive and takes an hour and a half for each application. There are three leasing agents that conduct these interviews, and on average, it is one hour between customer arrivals. A) 50% utilized B) 60% utilized C) 70% utilized D) 80% utilized
All of the following are reported as current liabilities EXCEPT:
A) unearned revenues for services to be provided in 16 months. B) sales tax payable. C) accounts payable. D) bonds payable due in 6 months.