ACC 575 ACC575 Week 5 Quiz

ACC 575 ACC575 Week 5 Quiz

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ACC 575 Week 5 Quiz

1.

In a general partnership, the authorization of all partners is required for an individual partner to bind the partnership in a business transaction to

2. 

Which of the following statements is correct with respect to the differences and similarities between a corporation and a limited partnership?

3. 

Which of the following statements is a general requirement for the merger of two corporations?

4. 

Which of the following must take place for a corporation to be voluntarily dissolved?

5. 

Which of the following is true regarding this form?

6.

Under the provisions of the Americans With Disabilities Act of 1990, in which of the following areas is a disabled person protected from discrimination?

7. 

On dissolution of a general partnership, distributions will be made on account of:

8. 

A stockholder's right to inspect books and records of a corporation will be properly denied if the stockholder

9. 

Which of the following statements is correct concerning liability when a partner in a general partnership commits a tort while engaged in partnership business?

10. 

Under the Age Discrimination in Employment Act, which of the following remedies is(are) available to a covered employee?

11. 

The apparent authority of a partner to bind the partnership in dealing with third parties

12. 

A parent and child currently own and operate a farm as equal partners. Under the Revised Uniform Partnership Act, what effect would the death of the parent have on the partnership?

13.

Under the Securities Act of 1933, which of the following statements most accurately reflects how securities registration affects an investor?

14. 

In which type of business organization are income taxes always required to be paid by the entity on profits earned as well as by the owners upon distribution thereof?

15. 

In which type of business entity is the entire ownership interest most freely transferable?

16. 

If no provisions are made in an agreement, a general partnership allocates profits and losses based on the:

17. 

Knox, president of Quick Corp., contracted with Tine Office Supplies, Inc. to supply Quick's stationery on customary terms and at a cost less than that charged by any other supplier. 

Knox later informed Quick's board of directors that Knox was a majority stockholder in Tine.

18. 

Maples and Chen are equal partners in a pizza delivery business. Maples wishes to use the partnership's only delivery vehicle to drive to the beach on a Sunday afternoon when the business is closed. Which of the following is true?

19. 

Which of the following statements best describes an advantage of the corporate form of doing business?

20. 

Which of the following are exempt from the registration requirements of the Securities Act of 1933?


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