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2010 Business Released MC Questions

2010 Business Released MC Questions - 2010 AICPA Newly...

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2010 AICPA Newly Released Questions – Business 1 © 2010 DeVry/Becker Educational Development Corp. All rights reserved. Following are multiple choice questions recently released by the AICPA. These questions were released by the AICPA with letter answers only. Our editorial board is currently working on providing detailed explanations for these questions, so please check back to the Becker Knowledgebase soon for the updated file. Please note that the AICPA generally releases questions that it does NOT intend to use again. These questions and content may or may not be representative of questions you may see on any upcoming exams.
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2010 AICPA Newly Released Questions – Business 2 © 2010 DeVry/Becker Educational Development Corp. All rights reserved. 1. CPA- Under the Revised Uniform Limited Partnership Act, which of the following is true regarding limited partnerships? a. A limited partnership has no general partners. b. General partnerships may not be converted to limited liability partnerships because they must be terminated first. c. The limited partners may not participate in the management of the company. d. Official formation is not necessary for a limited partnership other than two or more people carrying on as co-owners of a business for profit. Explanation Choice "c" is correct.
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