test 5 - Question 1 0 out of 2.5 points Fay is admitted to...

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Question 1 0 out of 2.5 points Fay is admitted to Global Trading Partners, an existing partnership. A partnership debt incurred before the date of her admission comes due. Fay is Answer Selected Answer: Question 2 2.5 out of 2.5 points 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 Answer Selected Answer: Question 3 0 out of 2.5 points A partnership for a definite term cannot be dissolved before the expiration of the term. Answer Selected Answer: Question 4 2.5 out of 2.5 points With a few exceptions, all of the rules that govern partnerships apply to limited liability partnerships. Answer Selected Answer: Question 5 2.5 out of 2.5 points
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In a limited liability limited partnership, the liability of a general partner is the same as the liability of a limited partner. Answer Selected Answer: Question 6 0 out of 2.5 points A joint venture is treated much like a limited liability company. Answer Selected Answer: Question 7 0 out of 2.5 points Wild Horses Ranch is a family limited liability partnership (FLLP). In an FLLP, all of the partners must be Answer Selected Answer: Question 8 2.5 out of 2.5 points A business trust is somewhat similar to a corporation. Answer Selected Answer: Question 9 2.5 out of 2.5 points Like the bylaws of other corporations, the bylaws of Retail Sales, Inc., Answer Selected Answer: Question 10
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2.5 out of 2.5 points Any person who buys common stock acquires voting rights in a corporation. Answer Selected Answer: Question 11 2.5 out of 2.5 points A shareholder in a professional corporation can be liable for malpractice arising from the rendering of professional services. Answer
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This note was uploaded on 07/21/2011 for the course BUS 1302 taught by Professor Falcon during the Spring '11 term at University of Texas at Dallas, Richardson.

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test 5 - Question 1 0 out of 2.5 points Fay is admitted to...

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