Free AICPA CPA-Business Exam Dumps

Choice 'c' is correct. In a limited partnership, a general partner may be a secured creditor of the limited partnership.

Choice 'a' is incorrect. In a limited partnership, a limited partner may be an unsecured creditor of the limited partnership.

Choice 'b' is incorrect. In a limited partnership, a general partner may also be a limited partner at the same time.

Choice 'd' is incorrect. In a limited partnership, only the limited partners will have limited liability. A limited partnership must have at least one general partner and general partners have unlimited liability.

(The word 'all' makes this option wrong.)

Choice 'd' is correct. Relatively stable demand over a three year period in each of the first three quarters of the year followed by an increase of between 40 and 50 percent in the final quarter of the year over average sales in the first three quarters in each of the three years presented is indicative of seasonal fluctuations in demand for Emerald's product that would require appropriate inventory management.

Choice 'a' is incorrect. The consistent volume levels and fluctuation percentages displayed for the activity in each quarter for each year are indicative of changes in seasonal demand rather than changes in the economy generally.

Choice 'b' is incorrect. The consistent volume levels and fluctuation percentages displayed for the activity in each quarter for each year are indicative of changes in seasonal demand rather than changes in the economy generally.

Choice 'c' is incorrect. Relatively stable demand over a three year period in each of the first three quarters of the year followed by an increase of between 40 and 50 percent in the final quarter of the year over average sales in the first three quarters in each of the three years presented is indicative of seasonal fluctuations in demand for Emerald's product. The company should be more attentive to the timing of inventory purchases to meet demand, however, rather than the company's overall cost structure.

Market Influences on Business Strategies