Solved by Expert Tutors
Solved by Expert Tutors
Question

QUESTION 23 Land. Inventory. Equipment. Patents and copyrights.QUESTION 24 State law. Federal law.

1. Article 9 of the UCC does not cover a security interest in the following:

1.Bankruptcy proceedings are commenced under:

Local (city or county) law.

State or federal law at the option of the debtor.


QUESTION 25

1.  Sole proprietorships are the most common form of business organization in the United States.

 True

 False


QUESTION 26

1.The right to participate in the management of the business is evidence of a partnership.

  True

  False


QUESTION 27

1.In an LLC, all owners have limited liability.

 True

 False


QUESTION 28

1.The major disadvantage of a sole proprietorship is:

The difficulty and cost of formation.

The unlimited liability for the business's debts.

The sharing of management authority with others.

The difficulty in transferring ownership to others.


QUESTION 29

1.Which of the following best describes the requirements of a partnership?

An association of persons, owning property, sharing gross receipts

An association of persons, owning a business in order to make a profit

An association of persons, owning property in order to make a profit

An association of persons


QUESTION 30

1. Which types of partners in a limited partnership should participate in management?

General partners only.

Limited partners only.

Both general and limited partners.

General partners only, unless there are no general partners, and in that case, limited partners participate in management.

Step-by-step answer

The student who asked this found it Helpful

tesq

facilisis.

ur l

llent

ur l

at, ultrices ac magna. Fusce dui lectus, congue v

ce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet

cing elit. Nam lacinia

acinia pulvi

itur

trices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum

Subscribe to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Let our 24/7 Business Law tutors help you get unstuck! Ask your first question.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes