Exam 12: Business Organizations

A change in the relationship of the partners that shows an unwillingness or an inability to continue with business may bring about ____ of the partnership.

Refer to Fact Pattern 13-1. Jeanette wants to exercise sole managerial control over her business but she does not have enough money to set the business up. Several members of Jeanette's family are willing to invest in her business because they think it will succeed. Richard may suggest that Jeanette establish which type of organization?

Which of the following must be contained in a certificate of limited partnership under the Uniform Limited Partnership Act:

In In re 1545 Ocean Avenue, LCC, where the two managers of a real estate development limited liability company disagreed about the project and one of the managers, King, sued for work to stop and the company to be dissolved, the appeals court reversed the trial court's decision to grant King's requests because:

Shareholders may not authorize third parties to vote on their behalf at shareholder meetings.

The FTC Franchise Rule prohibits states from having additional regulations on franchises that go beyond the federal rules.

Shell corporations are very easy to be set up in many states.

Which of the following is not true about the termination of a limited partnership?

Which of the following statements about a corporation is true? Corporations are not entitled to constitutionally protected:

The key elements of a franchise agreement include:

After reviewing a corporation's articles of incorporation for compliance with state standards, and its application, the state issues corporate bylaws.

States regulation of the sale of franchises:

Factors that influence the choice of a particular form of business organization may include:

Under traditional common law rules, if you wanted to sue a partnership you had to:

In a sole proprietorship, profits are taxed to the:

The modern "liberal" general incorporation statutes that we have today were adopted in the late 1800s.

If a shareholder works for the business then he:

The majority of businesses in the United States are:

With respect to transferability of ownership interests, a sole proprietor may:

A sole proprietorship comes into existence when: