BUS 263 EXAM 3 QUESTIONS WITH VERIFIED
ANSWERS
Correct
Incorrect
Your answers
1 of 20
Term
Dollars & Sense, Inc., is incorporated in the state of New Jersey and is
doing business in the state of New York. In New York, Dollars & Sense
is properly referred to as
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a foreign corporation. a domestic corporation.
a general partnership. a partnership.
Don't know?
2 of 20
, Term
Martha started a flower shop as a sole proprietor. After one year, she
was forced to close the shop because business was so bad. At that
time, the business assets totaled $50,000, but the business liabilities
totaled $125,000. Which of the following statements is true?
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Once martha terminates the sole
proprietorship, the business creditors Martha is personally liable for
cannot get any amounts, including the additional $75,000.
the $50,000.
Martha's business creditors can
A majority of the partners must agree
collect only the $50,000 of business
to the decision.
assets.
Don't know?
3 of 20
Term
Otto is considering forms of business organization for Pro Tree Service,
his landscaping firm. Like most states, Otto's state requires that to form
a limited liability company, he must file with a central state agency
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ANSWERS
Correct
Incorrect
Your answers
1 of 20
Term
Dollars & Sense, Inc., is incorporated in the state of New Jersey and is
doing business in the state of New York. In New York, Dollars & Sense
is properly referred to as
Give this one a try later!
a foreign corporation. a domestic corporation.
a general partnership. a partnership.
Don't know?
2 of 20
, Term
Martha started a flower shop as a sole proprietor. After one year, she
was forced to close the shop because business was so bad. At that
time, the business assets totaled $50,000, but the business liabilities
totaled $125,000. Which of the following statements is true?
Give this one a try later!
Once martha terminates the sole
proprietorship, the business creditors Martha is personally liable for
cannot get any amounts, including the additional $75,000.
the $50,000.
Martha's business creditors can
A majority of the partners must agree
collect only the $50,000 of business
to the decision.
assets.
Don't know?
3 of 20
Term
Otto is considering forms of business organization for Pro Tree Service,
his landscaping firm. Like most states, Otto's state requires that to form
a limited liability company, he must file with a central state agency
Give this one a try later!
