Limited Liability of Partners or Members Is an Advantage of All

question 125

Multiple Choice

Limited liability of partners or members is an advantage of all the following with the exception of

• A)LLP.
• B)LLC.
• C)limited partnerships.
• D)general partnerships.

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Definitions:

Carrying Costs

Expenses incurred by a company for holding inventory over a period of time.

Ordering Costs

The expenses associated with placing and receiving orders for inventory, including costs related to processing, shipping, and handling.

Accounts Receivable

Receivables from customers for goods or services already supplied by the company but payment has not been made.

Accounts Payable

Liabilities to creditors, representing the obligation to pay for goods and services received, usually within a short period of time.