Which of the following statements is true of the formation of general partnerships?
A. Expert legal assistance can be acquired when drawing up a partnership agreement.
B. It is illegal to start a partnership on the basis of a verbal agreement.
C. A general partnership consists of a limited number of members.
D. A general partnership refers to business unions formed through involuntary partnership agreements.
Answer: A
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Under the Revised Uniform Partnership Act (RUPA), when a partnership that has suffered losses winds up, ________.
A. all partners are paid in full before outside creditors who loaned money are given anything B. the partners who have negative capital accounts are not required by law to contribute to the partnership the amount of the deficiency C. all partnership creditors are paid even when all the partners' capital accounts are negative D. all partnership creditors are paid first
The forecast error measures the difference between the forecast and the estimate
Indicate whether the statement is true or false.
A defense to an action based on material omissions and untrue statements contained in a registration statement is:
a. innocent mistake. b. due diligence. c. constructive disclosure. d. reasonable diligence.
Francesca works for GlassworksInc Near her workstation is a conveyor belt that runs into a large industrial oven. Some workers, including Harry, Francesca's supervisor, use the oven to heat food. One day, when the conveyor is not moving, Francesca uses
the oven to cook her lunch. As she removes the food from the oven, the conveyor comes on and Francesca is pulled partially into the oven and suffers seriousburns. Francesca seeks recovery under the state workers' compensation law. Should she recover? Why or why not?