Question 1

Single member limited liability companies may legally become a general partner in a limited liability partnership. Is this statement True or False?

TRUE

FALSE

Question 2

The intent to start partnership is not required if the acts and conduct of the parties otherwise evidence (demonstrate) that the parties carried on as co-owners of a business for profit. Is this statement True or False?

TRUE

FALSE

Question 3

Premiums paid by corporations for the health insurance benefits that it provides employees are tax-deductible expenses. Is this statement True or False?

TRUE

FALSE

Question 4

Premiums paid by corporations for the health insurance benefits that it provides employees are tax-deductible expenses. Is this statement True or False?

TRUE

FALSE

Question 5

A guaranty agreement between a married couple and a third party does not have to be in writing to be enforceable in court. Is this statement True or False?

TRUE

FALSE

Question 6

The gifts given and received between a couple engaged to be married must be returned to the respective gift giver if the engaged couple mutually decides to end their engagement to be married. Is this statement True or False?

TRUE

FALSE

Question 7

The party that is not at fault when the engagement to be married has been terminated (ended) by the at-fault party may keep the engagement ring. Is this statement True or False.

TRUE

FALSE