BUS 206 Week 6 Quiz | Assignment Help | southern-new-hampshire-university
- southern-new-hampshire-university / BUS 206
- 24 Aug 2020
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BUS 206 Week 6 Quiz | Assignment Help | southern-new-hampshire-university
Question 1
Every partner is considered to be an agent of the
partnership.
Question options:
o
True
o
False
Question 2
A person who decides to go into business on his or
her own without further formality forms a(n) _____.
Question options:
o
Individual entity
o
Sole proprietorship
o
Single entity
o
Sole entrepreneurship
o
Single entrepreneurship
Question 3
Which of the following is true regarding
corporations?
Question options:
o
A corporation is not a separate legal
entity.
o
A corporation may not be sued.
o
A corporation is created according to
federal law.
o
Shareholders may typically be held
liable for debts of the corporation.
o
The corporation must pay taxes on profits,
and shareholders must pay taxes on dividends they receive from the corporation.
Question 4
Officers of a corporation are hired by the
shareholders.
Question options:
o
True
o
False
Question 5
If a partner has authority to act and the
partnership is bound by the act, each partner has unlimited personal liability
for the obligation.
Question options:
o
True
o
False
Question 6
Which of the following is a business that exists
because of an arrangement between the owner of a trade name or trademark and a
person who sells goods or services under the trade name or trademark?
Question options:
o
Joint venture
o
Franchise
o
Joint partnership
o
Consensual seller
o
Approved arrangement
Question 7
Which of the following governs partnerships in most
states in the absence of an express agreement?
Question options:
o
The Joint Partnership Act
o
The Uniform Joint Agreement Act
o
The Uniform Partnership Act
o
The Associated Partnership Act
Question 8
Which of the following is false regarding a
partnership?
Question options:
o
It is easy to create.
o
Income of the business is personal
income.
o
Business losses can be deducted from
taxes.
o
The partners are considered agents of
the partnership.
o
In most cases, partners do not have
personal liability for losses.
Question 9
Members of the board of directors of a corporation
are elected by shareholders.
Question options:
True
False
Question 10
Which of the following is a relationship between two
or more persons or corporations created for a specific business undertaking?
Question options:
o
A business trust
o
A joint venture
o
A syndicate
o
A franchise
o
An enterprise
USA 
India