9 - 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 6:27 PM Name Module 6 Practice Test Status Completed Score 0 out of 100 points Time Elapsed 5 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 Dunn and Etta are limited partners in Fancee Fashion Stores, a limited partnership. In terms of the firm's books, Dunn and Etta are entitled to Selected Answer: [None Given] Correct Answer: total access. 0 out of 2 points Question 3 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 4 Guy and Hanna do business as G-H Associates. If G-H is a partnership, it is governed by the Uniform Partnership Act Selected Answer: [None Given] Correct Answer: in the absence of an express agreement. 0 out of 2 points Question 5 In some states, business trusts pay corporate taxes. 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: True Question 6 Build-Rite Construction Corporation and Deals-R-Us, Inc., combine their efforts to build an office and retail complex. Their form of business organization is Selected Answer: [None Given] Correct Answer: a joint venture. 0 out of 2 points Question 7 A franchise agreement between Simple Software Company and Total Game, Inc., is silent on a time for termination of the franchise. Simple may Selected Answer: [None Given] Correct Answer: terminate on reasonable notice. 0 out of 2 points Question 8 Pricey Auto Corporation gives notice to Quint that Pricey is terminating their franchise arrangement. Winding up the business requires Selected Answer: [None Given] Correct Answer: returning Pricey's property. 0 out of 2 points Question 9 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 10 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 11 In a limited liability company, members cannot participate in its management. Selected Answer:
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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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9 - NR275.BUS.241.35.SP11 - ( [Spring 2011] BUS 241-35:...

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