18 - NR275.BUS.241.35.SP11 - ( [Spring 2011] BUS 241-35:...

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NR275.BUS.241.35.SP11 - ([Spring 2011] BUS 241-35: Business Law I) Assignments ... Module 6 Practice Test Review Test Submission: Module 6 Practice Test Review Test Submission: Module 6 Practice Test User Kristen M Ritch Submitted 3/5/11 6:33 PM Name Module 6 Practice Test Status Completed Score 0 out of 100 points Time Elapsed 6 seconds out of 2 hours and Instructions Question 1 Bret buys a franchise from Comida Mexicano Ltd. If their agreement is like most franchise agreements, it will specify that Comida can terminate the franchise Selected Answer: [None Given] Correct Answer: for cause only. 0 out of 2 points Question 2 The beneficiaries of a business trust are personally liable for its obligations. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 3 A limited partner has a right to participate in the management or operation of the partnership. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 4 Services. To be a partnership, this association can result from an agreement that is Selected Answer: [None Given] Correct Answer: oral, written, or implied by conduct. 0 out of 2 points Question 5 Cal sells "DownSize," a weight-reduction program, from a Web site, in competition with Eat-Less Inc.'s product "Fit 'n Trim." Eat-Less files a suit against Cal, alleging in part that he is a sole proprietor, 0 out of 2 points NR275.BUS.241.35.SP ([Spring 2011] BUS 241-35: Business Law I) Announcements Assignments Course Documents Discussion Board My Grades Communication Tools Resources
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but his enterprise should be deemed a different form of business. Cal's enterprise should most likely be considered Selected Answer: [None Given] Correct Answer: a sole proprietorship because Cal is a sole proprietor. Question 6 As the beneficiary of a business trust, Kevin's liability for trust debts and obligations is Selected Answer: [None Given] Correct Answer: nothing. 0 out of 2 points Question 7 Omega Corporation and Precision Coding, Inc., two software firms, wish to combine their research and development capabilities to make a special, limited edition computer game. The most appropriate legal entity for this project might be Selected Answer: [None Given] Correct Answer: a joint venture. 0 out of 2 points Question 8 A group of individuals getting together to finance a particular project may form a syndicate. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 9 In a limited liability company, members must participate in the management of the company. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 10 CPA Accounting, LLC, is a limited liability company. If the law in CPA's state is like the law in most states, unless the members have agreed otherwise, participants in the firm's management will be considered to include Selected Answer: [None Given] Correct Answer: all members. 0 out of 2 points
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This note was uploaded on 03/16/2011 for the course BUS 241 taught by Professor Green during the Spring '11 term at New River Community College.

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18 - NR275.BUS.241.35.SP11 - ( [Spring 2011] BUS 241-35:...

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