ENT 2113 Test #2 OU Exam Questions With
Correct Answers
The Americans with Disabilities Act requires that there should be no
| | | | | | | | | | |
discrimination in the hiring, management, or dismissal of employees
| | | | | | | | |
with disabilities.
|
true
As a Subchapter S Corporation, one of the advantages is having
| | | | | | | | | | |
legitimacy in the market as a more established form of business.
| | | | | | | | | |
true
A business that chooses to form a corporation must have a board of
| | | | | | | | | | | | |
directors. In new small corporations, the board of directors and
| | | | | | | | | |
shareholders must be different individuals.
| | | |
false
A trademark cannot be renewed once it has been issued even when the
| | | | | | | | | | | | |
firm or the product is active.
| | | | |
, false
If a new business deals with toxic waste such as asbestos, it can expect
| | | | | | | | | | | | | |
to be subject to significant regulation, regardless of the size of the firm.
| | | | | | | | | | | |
true
Carla and John enter into a partnership and form a business. Under the
| | | | | | | | | | | | |
partnership agreement, Carla is directly responsible for the
| | | | | | | |
management of the firm and its liabilities. John has a minor financial
| | | | | | | | | | | |
stake in the firm and works there, but he is not held responsible for the
| | | | | | | | | | | | | | |
taxes and debts owed by the firm. In the context of the legal forms of
| | | | | | | | | | | | | | |
business, Carla and John have formed a ________,
| | | | | | |
limited liability partnership
| |
Marsciva Technologies is an emerging business. The firm considers the
| | | | | | | | | |
owners to be employees of the firm and therefore pays them salaries
| | | | | | | | | | | |
and bonuses. To reduce corporate tax, the owners of Marsciva
| | | | | | | | | |
Technologies pay themselves nearly all the profits generated so that
| | | | | | | | | |
very little actual profits are reported by the firm. Based on these
| | | | | | | | | | | |
characteristics, Marsciva Technologies is most likely a | | | | | |
Subchapter C Corporation | |
Correct Answers
The Americans with Disabilities Act requires that there should be no
| | | | | | | | | | |
discrimination in the hiring, management, or dismissal of employees
| | | | | | | | |
with disabilities.
|
true
As a Subchapter S Corporation, one of the advantages is having
| | | | | | | | | | |
legitimacy in the market as a more established form of business.
| | | | | | | | | |
true
A business that chooses to form a corporation must have a board of
| | | | | | | | | | | | |
directors. In new small corporations, the board of directors and
| | | | | | | | | |
shareholders must be different individuals.
| | | |
false
A trademark cannot be renewed once it has been issued even when the
| | | | | | | | | | | | |
firm or the product is active.
| | | | |
, false
If a new business deals with toxic waste such as asbestos, it can expect
| | | | | | | | | | | | | |
to be subject to significant regulation, regardless of the size of the firm.
| | | | | | | | | | | |
true
Carla and John enter into a partnership and form a business. Under the
| | | | | | | | | | | | |
partnership agreement, Carla is directly responsible for the
| | | | | | | |
management of the firm and its liabilities. John has a minor financial
| | | | | | | | | | | |
stake in the firm and works there, but he is not held responsible for the
| | | | | | | | | | | | | | |
taxes and debts owed by the firm. In the context of the legal forms of
| | | | | | | | | | | | | | |
business, Carla and John have formed a ________,
| | | | | | |
limited liability partnership
| |
Marsciva Technologies is an emerging business. The firm considers the
| | | | | | | | | |
owners to be employees of the firm and therefore pays them salaries
| | | | | | | | | | | |
and bonuses. To reduce corporate tax, the owners of Marsciva
| | | | | | | | | |
Technologies pay themselves nearly all the profits generated so that
| | | | | | | | | |
very little actual profits are reported by the firm. Based on these
| | | | | | | | | | | |
characteristics, Marsciva Technologies is most likely a | | | | | |
Subchapter C Corporation | |
