Assume the football team is set up as a limited partnership Lenny is the only general partner and Sarah and Sam are the only limited partners. The team is sued for negligence because an individual who turned to see the quarterback running naked crashed her car. Which of the following is true?
a) Lenny has unlimited liability and Sarah and Sam have liability limited to their investment in the firm.
b) The only one with liability is the company itself.
c) Lenny, Sarah and Sam all have unlimited liability.
d) Lenny has liability limited to his investment in the firm and Sarah and Sam have unlimited liability.

Landon mars, the company bookkeeper, recorded the $10,000 purchase of land as rent expense by decreasing cash and decreasing shareholders' equity. what is the effect of this error on the accounting equation

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u.s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

On average, someone with a bachelor's degree is estimated to earn times more than someone with a high school diploma. a)1.2 b)1.4 c)1.6 d)1.8