Ima safer, who recently graduated from college and got a full-time job, has prepared her first personal budget and found a pleasant surprise. after taking into account her expected monthly income and all of her ordinary expenses, including the monthly payment on her credit card, she should have some money left over. if ima is like most young people who are just starting out, the best thing for her to do with the extra money would be to:

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business. true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.