Ernie the entrepreneur is looking to open a trendy coffee shop that he plans to call 'Java Joe's Joint'. He needs to raise some money and forms a general partnership to operate the business. Amy, Ben, Caroline, and Dan come on board as partners in the Java Joe Partnership with Ernie and each of the 5 partners invests $50,000. Each partner owns a 20% interest in Java Joe Partnership but only Ernie is actively involved in the operation of the coffee shop. The Partnership enters into a 5-year lease for space to operate the coffee shop. After 9 months it is clear that the coffee shop is unsuccessful and shuts its doors. If the landlord sues the Partnership and each of the partners for breach of the lease, which of the following is true?
a. The landlord can recover damages for breach of the lease from the assets of the partnership but the individual partners are not personally liable for the judgment.
b. Unless the partners personally signed a guarantee of the lease, they cannot be held liable for damages for breach of the lease.
c. Because Ernie was the driving force in this project, he will be personally liable for damages for breach of the lease but the other partners are not liable.
d. The landlord can recover damages for breach of the lease from the five partners.

Which of the following housing decisions provides a person with both housing and an investment? a. selling a share in a cooperative. b. buying a single-family home. c. renting an apartment. d. subletting a condominium. 2b2t

If a bond is issued at a premium the effective interest rate is most likely

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.