Partners g and h form the gh partnership, with g contributing $200,000 cash and h contributing some land with a basis of $600,000 and a fmv of $900,000, subject to a nonrecourse liability of $700,000. they agree to share profits and losses 60% to g and 40% to h. what is h’s share of the liability?

What are the main advantages and disadvantages of organizing a firm as a c corporation? the advantages are: (select all the choices that apply.) a. there is no limit on the number of owners a c corporation may have, thus allowing the corporation to raise substantial amounts of capital. b. the life of the business can continue beyond the death of any of the owners. c. the corporation can use the assets of the owners to pay for corporate liabilities. this attracts smaller investors to the corporation. d. the liability of the owners is limited to the amount of their investment in the firm. the disadvantages are: (select all the choices that apply.) a. income to a c corporation is subject to double taxation, once at the corporate level and again when received by the owners in the form of a dividend. b. the life of the business usually ends with the death of any of the owners. c. the c corporation is more complicated and more expensive to set up than other business entities. d. corporate liabilities can be passed on to the share

Suppose you manage an upscale restaurant in new york city. would involve writing employee schedules and a list of things to do for the chef and other kitchen staff

Present values. the 2-year discount factor is .92. what is the present value of $1 to be received in year 2? what is the present value of $2,000? (lo5-2)