BUS263 - MID-TERM ( AND ) UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
1. False
Answer:
a partnership is the easier business organization to form
Question:
2. True
Answer:
In a sole proprietorship, the owner may keep all of the profits
Question:
3. True
Answer:
for the purpose of forming a partnership, a "person" can be another partnership
Question:
4. False
Answer:
Mia works as an assistant in a pharmacy. Her receipt of monthly wages her a
partner in the pharmacy
Question:
5. True
Answer:
Under the RUPA, partner can sue another partner or the partnership itself to
enforce his or her partnership rights as expressed in the RUPA or granted by the
partnership agreement.
Question:
6. True
Answer:
corporations are sometimes referred to as "creatures of the state" because the
corporate entity is created under the authority of a state or federal statute.
QUESTIONS AND CORRECT ANSWERS
Question:
1. False
Answer:
a partnership is the easier business organization to form
Question:
2. True
Answer:
In a sole proprietorship, the owner may keep all of the profits
Question:
3. True
Answer:
for the purpose of forming a partnership, a "person" can be another partnership
Question:
4. False
Answer:
Mia works as an assistant in a pharmacy. Her receipt of monthly wages her a
partner in the pharmacy
Question:
5. True
Answer:
Under the RUPA, partner can sue another partner or the partnership itself to
enforce his or her partnership rights as expressed in the RUPA or granted by the
partnership agreement.
Question:
6. True
Answer:
corporations are sometimes referred to as "creatures of the state" because the
corporate entity is created under the authority of a state or federal statute.
