A business partner whose potential financial loss in the partnership will not exceed his or her investment in that partnership is called a:
Refer to section 1.2
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7.
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A business created as a distinct legal entity and treated as a legal "person" is called a:
Refer to section 1.2
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8.
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Which one of the following terms is defined as a conflict of interest between the corporate shareholders and the corporate managers?
Refer to section 1.4
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9.
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A stakeholder is:
Refer to section 1.4
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10.
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Which of the following questions are addressed by financial managers?
I. How should a product be marketed? II. Should customers be given 30 or 45 days to pay for their credit purchases? III. Should the firm borrow more money? IV. Should the firm acquire new equipment?
Refer to section 1.1
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