Which Is Not an Early Warning Sign of Financial Trouble

question 42

Multiple Choice

Which is not an early warning sign of financial trouble to come in the future?

• A) No Emergency fund
• B) Paying only the minimum amount on a credit card bill
• C) Not having a monthly budget
• D) Investing in a 401(k)or a 403(b)plan

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Definitions:

Limited Partnership

A partnership consisting of at least one general partner, who manages the business and is personally liable for debts, and one or more limited partners, who invest capital but have limited liability and are not involved in day-to-day management.

General Partners

Individuals in a partnership who are responsible for the management of the business and are personally liable for its debts.

Limited Liability

Limited Liability is a legal principle that limits the financial liability of shareholders, owners, or members of a company to the amount they have invested in it.

Operating Agreement

An agreement between Limited Liability Company (LLC) members that specifies the organization's financial and operational choices.