Self Check Chapter 37 Quiz (WK2)

Self Check Chapter 37 Quiz (WK2) - Self Check Chapter 37...

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Self Check Chapter 37 Quiz (WK2) 1 A limited liability partnership has at least one general partner and at least one limited  partner. A) True B) False 2 The entity theory of partnership says that, in certain situations, the business has a  separate and distinct existence from the individual partners. A) True B) False 3 Two or more people who appear to be partners may create liability for one another even  if they are not actually partners. A) True B) False 4 If a creditor obtains a judgment against a person who is also a partner in a partnership,  the creditor may be able to attach that person's interest in the partnership. A) True B) False 5 A professional corporation shields its members from personal liability for malpractice A) True B) False 6 A limited liability company A) Combines the limited liability aspects of corporations with the tax advantages  of partnerships and sole proprietor ships. B) Issues shares to owners that are normally publicly traded. C) Has a manger who has unlimited liability for the debts of the company D) All of the above. 7
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Self Check Chapter 37 Quiz (WK2) - Self Check Chapter 37...

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