Week+two+test+answer+key[1] - Bus422 Contemporary Business...

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Bus422 – Contemporary Business Law II Week Two Test – Answer Key *Please post your answers to the test in your Individual Forum no later than Day 7 (Monday). You may use only the designated reading materials to answer the questions on the test. Each blank is worth two tenth of a point (.2). Total point value on the test is six (6). 1. A __________________ is continuously employed to conduct a series of transactions, while a ____________________ is employed to conduct a single transaction or a small, simple group of transactions. (General Agent / Special Agent, p. 858). 2. A principal is __________________ when the third party lacks knowledge or reason to know of the principal’s existence and the principal’s identity. (undisclosed, p. 880) 3. A __________________________ is identical to a business corporation in most respects except that it involves the incorporation of a professional practice such as lawyers, doctors, or accountants. (professional corporation, p. 895). 4. In transacting partnership business, each partner owes a ___________________. (duty of care p. 912). 5.
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This note was uploaded on 04/09/2010 for the course ACC 423 acc 423 taught by Professor Mr.youknowwho during the Spring '10 term at University of Phoenix.

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Week+two+test+answer+key[1] - Bus422 Contemporary Business...

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