5 - 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 6:23 PM Name Module 6 Practice Test Status Completed Score 0 out of 100 points Time Elapsed 13 seconds out of 2 hours and Instructions Question 1 In a limited liability company, members do not have to participate in its management. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 2 Carl sells Direct Marketing Enterprises, a sole proprietorship, to Erv. This is a transfer of Selected Answer: [None Given] Correct Answer: the ownership of the business. 0 out of 2 points Question 3 A partner owes a partnership and its partners a duty to engage in gross negligence and reckless conduct. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 4 Jack buys a Kitchens, Inc., franchise, which the franchisor later terminates. In determining whether the termination was proper, a court will generally Selected Answer: [None Given] Correct Answer: balance the rights of both parties. 0 out of 2 points Question 5 Owen, Paula, Quinn, and Rita combine to finance the building of Super Stores, a shopping mall. Their selected form of business organization is an investment group, or Selected Answer: [None Given] 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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Correct Answer: a syndicate. Question 6 Vela and other farmers in Washington County form a business organization to provide, without profit, an economic service to its members. This is Selected Answer: [None Given] Correct Answer: a cooperative. 0 out of 2 points Question 7 Pat enters into an agreement with Ole! Food, Inc., to operate a franchise in Region City. Later, Ole! grants franchises to others within the city, Pat files a suit to close them. This suit will likely Selected Answer: [None Given] Correct Answer: fail if Ole! did not give Pat exclusive rights to Region City. 0 out of 2 points Question 8 In a limited liability company, members cannot participate in its management. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 9 Dreem Land Corporation and EZ Investments Company transfer their property to Financial Managers, Inc., which manages the property and distributes the profits to Dreem and EZ. This form of a business organization is Selected Answer: [None Given] Correct Answer: a business trust. 0 out of 2 points
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5 - NR275.BUS.241.35.SP11 - ( [Spring 2011] BUS 241-35:...

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