Question
1)In a partnership each partner shares in the profits of the business, as well as the __________ of the business. stock assets member units shareholder's
1)In a partnership each partner shares in the profits of the business, as well as the __________ of the business.
stock | ||
assets | ||
member units | ||
shareholder's equity
|
2)Dissolution of a partnership is governed by the partnership contract and usually occurs due to any of the following EXCEPT:
the death or disability of one of the partners.
| ||
the expulsion of one of the partners.
| ||
illegality of the partnership's business.
| ||
incorporation |
3)Contracts for services are considered __________ and are __________ by the UCC.
ordinary contracts, covered
| ||
material contracts, not covered
| ||
ordinary contracts, not covered
| ||
material contracts, covered |
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