What is the effect of the right of a partner to participate in management of the business?
A) It allows one partner to totally run the business
B) The exercise of this right often leads to more agreement by the partners.
C) Every partner may hire family members to work in the business.
D) It allows partners to maintain control over their investments.
D
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A court order that prohibits a person from doing a certain act is termed as a(n) ________
A) rescission B) reformation C) injunction D) restitution
Which of the following is a Bright-line test?
A: An item is deemed material if it is large in size. B: An item is deemed material if it is large enough to influence CEOs decision making. C:An item is deemed to material if it exceeds 10% of net income.
A sales-oriented firm defines its business (or mission) in terms of:
A. employees B. goods and services C. customers D. competitors E. benefits
Tax avoidance is the reduction of a person's tax liability through illegal means.
Answer the following statement true (T) or false (F)