Reference no: EM131114606
1. The sale of a partner's transferable interest in a business entitles the buyer to what rights?
A. The right to inspect the partnership's accounting books
B. The right to represent the partnership in a legal proceeding
C. distributions of those profits to which the selling partner was entitled
D. The right to manage the partnership.
2. A limited partner who takes an active part in managing a limited partnership:
A. will be treated as a general partner with respect to parties who reasonably believed that she was a general partner
B. will be entitled to reasonable compensation for the value of the services provided
C. will lose the right to receive profit distributions as a limited partner
D. will be entitled to profit distributions as if she were a general partner
E. will be treated as a general partner with respect to all parties with whom she dealt
3. If a member of an LLC executes a personal guarantee for the debt of an LLC, which of the following is true?
A. The personal guarantee would be unenforceable because it would circumvent the limited liability of the member.
B. Because of the member's apparent authority, the personal guarantee would create liability for all other members if the LLC is a member-managed LLC.
C. The member will have personal liability according to the terms of the guarantee, but would not be personally liable for any other obligations of the LLC.
D. The personal guarantee would result in personal liability of the member for any obligation of the LLC.
4. Which of the following is not a consequence of being a partner of a partnership?
A. Each partner owes fiduciary duties to the partnership and to the other partners.
B. Partners are not liable for each other's torts.
C. Partners are agents of each other.
D. Each partner owns a portion of the value of the business.
|
Commonly held myths about affirmative action
: One of the commonly held myths about affirmative action is
|
|
Describe how expert system could be used in another business
: Pay particular attention to the portion of the text on expert systems. Could this tool be applied to the job that you do? Describe how an expert system could be integrated into your work environment either with your job or another job. If your work e..
|
|
Single-order shipments to all of its customers each week
: Astro Industries of Minneapolis, MN, makes weekly shipments to 20 customers in the Dallas area. Each customer’s order weighs, on average, 1,500 pounds. A direct truck shipment from Minneapolis to Dallas costs $1,800. How much would it cost Astro to m..
|
|
Predispose an organization to the swiss cheese theory
: Examine James Reasons' Swiss Cheese Theory and its application to quality and risk management, including patient safety, in a health care setting. What organizational influences would predispose an organization to the Swiss Cheese Theory? What strate..
|
|
Consequence of being a partner of a partnership
: Which of the following is not a consequence of being a partner of a partnership? If a member of an LLC executes a personal guarantee for the debt of an LLC, which of the following is true? The sale of a partner's transferable interest in a business e..
|
|
Federal-state or local government to health care cost
: One of the major challenges to hit the U.S. health system was the economic depression of 2008. Since that time economic growth has been slow and health care cut have been increased. List and explain two cuts made by employers and federal, state, or l..
|
|
What are the characteristics of good screening test
: What are the characteristics of a good screening test?
|
|
Metric support the overall financial performance
: lop a listing of what you believe are the most important metrics for operations managers. (Hint: Be sure to consider the triple bottom line.) How does each metric support the overall financial performance of the organization? What data would be used ..
|
|
Commercial paper-negotiability and bank-customer relations
: Discuss commercial paper, negotiability and bank-customer relations.
|