In a general partnership, each partner is personally liable for:

a. the partnership debts that he or she created.
b. his or her proportionate share of all partnership debts regardless of which partner incurred that debt.
c. the total debts of the partnership, even if he or she was unaware of those debts.
d. the debts of the partnership up to the amount he or she invested in the firm.
e. all personal and partnership debts incurred by any partner, even if he or she was unaware of those debts.

The market yield on spice grills' bonds is 15%, and the firm's marginal tax rate is 33%. what is their shareholders' required return if the equity risk premium is 4%?

Aquatic marine stores company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. aquatic uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 3 pounds per unit; $ 6 per pound direct labor: 4 hours per unit; $ 19 per hour during the first quarter, aquatic produced 5 comma 000 units of this product. actual direct materials and direct labor costs were $ 65 comma 000 and $ 330 comma 000, respectively. for the purpose of preparing the flexible budget, calculate the total standard direct materials cost at a production volume of 5 comma 000 units.

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)