6. The characteristic of a partnership that gives the authority to any partner t

Question

6. The characteristic of a partnership that gives the authority to any partner to legally bind the partnership and all other partners to business contracts is called
a. unlimited liability
b. ease of formation
c. mutual agency
d. dissolution

7. When a limited partnership is formed
a. the partnership activities are limited
b. all partners have limited liability (PAGE 535)
c. some of the partners have limited liability
d. none of the partners have limited liability


8. Which of the following below is not one of the four major forms of business entities that are discussed in this chapter?
a. sole proprietorship
b. corporation
c. partnership
d. subchapter s corporation


9. Which of the following below is not a characteristic of a Limited Liability Company?
a. limited life
b. limited liability
c. file articles of organization with the state government
d. avoids mutual agency


10. Accounting for the day-to-day activities for a partnership or Limited Liability Company is
a. the same as the accounting for any other form of business
b. the same as the accounting for a sole proprietorship only
c. is not the same as the accounting for any other form of business
d. the same as the accounting for a corporation only

6. A, 7.A, 8.A, 9.D, 10.C these are my answer but not study group members have different answers some the same most different can someone please help me out

Explanation / Answer

6) A 7) C 8) A 9) D 10)C I think this would help you.

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