Question 10. In Canada for how long must the parties have lived separately in order for the courts to grant a divorce based on separation? a. for at least 6 months b. for at least 1 year c. for at least 2 years d. for at least 3 years e. for at least 5 years

Question 11. A sole proprietor is free from regulatory control. a. True b. False 5 Question 12. Which of the following is a violation of the fiduciary duty of a partner?

a. A violation occurs where one partner carries on a business unrelated to the partnership with the permission of the partners.

b. A violation occurs where a partner uses the partnership property for partnership business.

c. A violation occurs where one partner learns of an investment opportunity in the field of the partnership and tells the partners. The partners decline on the opportunity, so he takes advantage of it himself.

d. A violation occurs where one partner uses information that he has gained from the partnership for the advantage of the partnership.

e. A violation occurs where one partner starts another business, without the consent of the other partners, that is the same as or in competition with the partnership business.

Question 13. Which of the following is correct with respect to limited partnerships?

a. Limited partnership refers to the fact that no more than five people are allowed to be partners in such partnerships.

b. Limited partnership refers to the fact that the partnership can only issue common shares.

c. Limited partnership refers to the fact that some partnerships are only created for a limited period of time.

d. Limited partnership refers to the fact that limited partnerships can only carry on certain kinds of businesses.

e. Limited partnership refers to the fact that some partners have limited liability.