B1.1 HW Sole Proprietorship and Joint Venture

B1.1 HW Sole - not require the filing of proper documents with the state La c Must file(Corporation Must file(Limited Partnership Need not

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B1.1 Sole Proprietorship and Joint Venture 1. Fanny and John each own and manage their own companies. Fanny's business is manufacturing freight boxes of all types, and John's business is selling freight boxes to different industries. They decide to combine their expertise and knowledge to produce and sell freight boxes specifically designed for the new airline company that just formed in their city. The best form of legal entity for this project is: La d. A joint venture. 2. A sole proprietorship would be an ideal form of business to select if: La b. The individual wanted to be able sell the business at will. 3. Formation of which of the following forms of business do
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Unformatted text preview: not require the filing of proper documents with the state? La c. Must file (Corporation) Must file (Limited Partnership) Need not file (Sole Proprietorship) 4. Which of the following forms of business can be formed with only one individual owning the business? La b. Yes (Sole Proprietorship) Yes (Limited Liability Company) No (Partnership) 5. Noll Corp. and Orr Corp. are contemplating entering into an unincorporated joint venture. Such a joint venture: La a. Will be treated as a partnership in most important legal respects. 6. What term is used to describe a partnership without a specified duration? La d. A partnership at will...
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This note was uploaded on 11/15/2009 for the course BUSINESS AC592 taught by Professor Becker during the Fall '09 term at Keller Graduate School of Management.

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