What is the most common type of firm in Canada and the world?
Question 12 options:
|limited liability partnerships|
Question 13 (2 points)
Joe is a general partner in a limited partnership firm, while Jane is a limited partner in that same firm. Which of the following statements regarding their respective relationships to the firm is correct?
Question 13 options:
|Joe has no management authority within the partnership.|
|Jane is legally involved in the managerial decision making of the firm.|
|Jane's liability for the firm's debts consists solely of her investment in the firm.|
|Withdrawal of Jane from the partnership will dissolve that partnership.|
|Jane's liability consists of all the firm's outstanding debts.|
Katie owns 12.5% of the stock of the Gimli Corporation. The tax rate on dividend income is 24%. If Gimli makes a dividend payment of $25,000,000 paid proportionally to its shareholders, how much of this amount would Katie receive after taxes?
Question 14 options: