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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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