Could you give me the answers of these questions for studying?

QUESTION 1

1. Limited Liability Companies are popular because they
2. can only have one owner.
3. pay only the corporate tax.
4. are easier to form than partnerships.
5. limit the personal liability of their owners.

1 points

QUESTION 2

1. Corporations are managed day-to-day by:
3. Officers selected by the owners
5. Officers selected by the shareholders
8. Board ofDirectors selected by the owners
10. Officers selected by the Board of Directors

1 points

QUESTION 3

1. Managers in a manager-managed LLC owe fiduciary duties to the LLC and its members
2. True
3. False

1 points

QUESTION 4

1. ________and are two types of franchises.
2. manufacturing and logistics.
3. health and food types.
4. fast food andmanufacturing.
5. distributorships andchain-style.

1 points

QUESTION 5

1. Apparent authority arises from what the principal tells the agent butactual attorney is about what thepprincipal has a third party believe about them.
2. True
3. False

1 points

QUESTION 6

1. When the Court "pierces the corporate veil," it...
5. separateslarger and smaller shareholders.
8. ignores the corporate structure, exposing the shareholders to liability.
10. forces the sale of the corporation.
12. removes the Board of Directors.

1 points

QUESTION 7

1. Express or implied consent to an agency might create an agency.
2. True
3. False

1 points

QUESTION 8

1. An agency can only be terminated by an act of either party.
2. True
3. False

1 points

QUESTION 9

1. Determining the scope of Clay's employment the Court may reviewthe followingfactors:
2. The time,place and purpose of Clay'sacts.
3. If Clay wanted to commit the act.
4. If Clay have previouslycommitted any torts.
5. If Clay authorized the act.

1 points

QUESTION 10

1. A major advantage of the sole proprietorship is that the proprietor owns the entire business and receives all the profits.
2. True
3. False

1 points

QUESTION 11

1. When Amy ends her agency relationship with her agent Kara, Kara'sapparent authoritycontinues until:
3. Kara has completed all of her agency duties.
4. Amy has collected all of her tools and equipment from Kara.
5. Kara has been paid.
6. the third parties receives notice that Kara's authority has beenterminated.

1 points

QUESTION 12

1. Termination of an Agency by operation of law include the following:
2. Death or insanity, impossibility, trade wars, disagreement.
3. Bankruptcy, war and impossibility.
4. Death,insanity,failure to comply,impossibility.
5. Wrongful termination,consent,death/insanity,

1 points

QUESTION 13

1. Owners of nonprofit corporations are exposed to unlimited liability.
3. True
4. False

1 points

QUESTION 14

1. A principal must provide it's agent with:
2. Pay stubs for work performed on time.
3. A reasonable schedule for performance required.
4. A safe working environment.
5. Hourly income.

1 points

QUESTION 15

1. More than ________ of all U.S. businesses are sole proprietorships.
3. one-third
4. 90%
5. two-thirds
7. 10%

1 points

QUESTION 16

1. Perry quits her position as a general manager with AT&Tbecause she claims AT&T will not give her access to databases which would help her predict a suitable inventory schedule.Perry could rely on what duty to justify her actions?
2. Agent's duty of obedience.
3. Principal'sduty of cooepration.
4. Principal'sduty of indemnification.
5. Principal's duty of loyalty.

1 points

QUESTION 17

1. A franchise is an arrangement in which:
2. the owner of intellectual propertysuch as a trademark, a trade name, or a copyrightsellsit to others to use it in the selling of goods or services,
3. the owner of intellectual propertysuch as a trademark, a trade name, or a copyrightlicenses others to use it in the selling of goods or services
4. the owner of intellectual propertysuch as a trademark, a trade name, or a copyrightforces others to use it in the selling of goods or services
5. the owner of intellectual propertysuch as a trademark, a trade name, or a copyrightdo not letothers to use it in the selling of goods or services

1 points

QUESTION 18

1. Written partnership agreement are helpful because:
2. it is the only way to create a legal partnerhip.
3. it describes how the partnership will work and how to dissolve it.
4. it is required under most state laws.
5. the federal laws on partnerships require it.

1 points

QUESTION 19

1. In a member-managed LLC
2. members and non-members manage the LLC.
3. members hire professionals to manage the LLC.
4. managers rotate management duties.
5. all members are part of the management.

1 points

QUESTION 20

1. What is not used to determine whether a partnership exists:
3. Taxation.
4. Ownership
5. Profit Sharing
6. Management.

1 points

QUESTION 21

1. Corporate bylaws describe how the corporation will build legal relationships with by-entities.
3. True
4. False

1 points

QUESTION 22

1. The principal does not have aduty to pay an agent for services rendered.
3. True
4. False

1 points

QUESTION 23

1. Sole proprietors are have limited liability for torts committed by their agents.
2. True
3. False

1 points

QUESTION 24

1. Agency by ratification is when a principal has accepted the unauthorized act on their behalf.
2. True
3. False

1 points

QUESTION 25

1. When the owner of a sole proprietorship dies then:
2. the business dies as well.
3. the decedents of the owner take over the business,
4. the state takes over the business until a new owner is found.
5. the partner takes over the business.

1 points

QUESTION 26

1. Sole proprietorship is one of the more difficult types of business formations.
2. True
3. False

1 points

QUESTION 27

1. Owners ofcorporations are referred to as:
3. corporate members.
4. corporate owners.
5. directors.
6. shareholders.

1 points

QUESTION 28

1. One of the criteria used to distinguish whether a someone is an employee or an independent contractor is the extend to which the employee controls the principals work.
2. True
3. False

1 points

QUESTION 29

1. An agent's duties to it's principal include:
2. Notification,accounting and liability
3. Obedience,loyalty and notification.
4. Notification,performance and reimbursement.
5. Notification, accounting and reimbursement.

1 points

QUESTION 30

1. Principals are vicariously liable for the harm independent contractors cause their agents.
2. True
3. False