p 374 Business trusts are run by A members B managers C directors D trustees

P 374 business trusts are run by a members b managers

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62.(p. 374)Business trusts are run by: A. members.B. managers.C. directors.D.trustees.Business trusts are managed and run by a trustee or trustees for the benefit of the beneficiaries. AACSB: Analytic Blooms: Remember Difficulty: Easy Learning Objective: 14-08 Recognize the utility of other business arrangements including franchise relationships and business trusts. Melvin - Chapter 14 #62 Topic: Business Trusts
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63.(p. 372)The Small Business Franchise Act provided franchisees each of the following protections except: AACSB: Reflective Thinking Blooms: Evaluate Difficulty: Hard Learning Objective: 14-08 Recognize the utility of other business arrangements including franchise relationships and business trusts. Melvin - Chapter 14 #63 Topic: Small Business Franchise Act 64.(p. 368)Which of the following would not generally be formed as an LLP? AACSB: Reflective Thinking Blooms: Understand Difficulty: Medium Learning Objective: 14-03 Distinguish between the formation and management of an LLC and the formation and management of an LLP. Melvin - Chapter 14 #64 Topic: Limited Liability Partnerships (LLPs) 65.(p. 368)When an LLP is formed, who files the initial paperwork? AACSB: Analytic Blooms: Apply Difficulty: Hard Learning Objective: 14-03 Distinguish between the formation and management of an LLC and the formation and management of an LLP. Melvin - Chapter 14 #65 Topic: Formation
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