Question

1.A ________ partnership is a modified form of a general partnership.
a. joint
b. limited
c. partial
d. mutual

2.Which section of the business plan focuses on the specific segment or target market of an industry
to which the firm will try to appeal?
a. Current status
b. Market analysis
c. Company summary
d. Operations plan

3.A(n) ________ director on a board of directors is NOT employed by the firm.
a. outside
b. inside
c. external
d. impartial

4.What are the primary financial objectives of any firm?
a. Efficiency, effectiveness, strength, and flexibility
b. Efficiency, effectiveness, power, and success
c. Liquidity, control, effectiveness, and power
d. Liquidity, profitability, efficiency, and stability

5.Which type of financial statement projects the firm's financial situation in the future based on
current trends and assumptions?
a. Chronological
b. Pro forma
c. Concurrent
d. Historical

Answer 1

Answer:

a joint

b market analysis

c external

d Efficiency, effectiveness, power, and success

e concurrent

Answer 2

1. A limited partnership is a modified form of a general partnership.

2. Market Analysis  focuses on the specific segment or target market of an industry to which the firm will try to appeal

3. An outside director on a board of directors is NOT employed by the firm.

4. Liquidity, profitability, efficiency, and stability are the primary financial objectives of any firm

5.  Pro-forma is a financial statement projects the firm's financial situation in the future based on current trends and assumptions

Explanation:

• Limited partnership is a partnership with a (i) general partner, who is a managing partner and has full personal responsibility for Limited Partnership debts and commitments, and (ii) a limited partner with limited liability who can not participate in management. A Limited Partnership (LP) is a similar type of partnership as General Partnership (GP), except that where a GP must have at least 2 general partners,  a LP should have at least 1 GP and 1 LP.
• A quantitative and qualitative evaluation is defined as market analysis. It looks at the size of the market in volume and value, specific types of consumer and purchasing habits, competition and the economic climate in terms of barriers to entry and regulation
• An outside director is a member of the board of directors of an company and is not an employee or associate.Outside director contributions are made in cash, benefits and/or stock options, and an annual retainer fee.
• Corporate owners have set different kinds of goals, including financial goals, to give them a strong plan to move towards long-term success. Common financial business goals include increased incomes, higher profit margins, reduced difficulties, and return on investment.
• Pro-forma financial statements are financial reports that are issued by any entity, using hypothetical conditions or assumptions concerning events which may have occurred in the past or that can take place in the future