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Which position generally directly responsible for financial

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Reference no: EM132958091

Problem 1: Which position is generally directly responsible for financial planning and capital expenditures?

A. Controller

B. Treasurer

C. Director

D. Chairman of the board

E. Chief operations officer

Problem 2: The division of profits and losses among the members of a partnership is formalized in the:

A. indemnity clause.

B. partnership agreement.

C. statement of purpose.

D. indenture contract.

E. group charter.

Problem 3: Sole proprietorships:

A. are expensive to setup.

B. are limited to the business owner's life.

C. are faced with double taxation of profits.

D. can have multiple owners.

E. provide limited liability to owners.

Reference no: EM132958091

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