LAW 531 UOP Tutorials,LAW 531 UOP Assignments,LAW 531 UOP Entire Class
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Martha’s business creditors can collect only the $50,000 now, but if Martha ever<br />
goes into business again, they can get the assets of the new business.<br />
Martha’s business creditors can collect only the $50,000 of business assets<br />
11.) Which of the following is one of the major purposes of a settlement<br />
conference?<br />
To structure a settlement payment schedule<br />
To facilitate the settlement of a case<br />
To contest the local court rules<br />
To conduct discovery for a case<br />
12.) Which of the following is true about the choice of business entity for an<br />
entrepreneur?<br />
The choice is determined solely by the amount of capital invested.<br />
The choice takes into account many factors, including finding an option that has all<br />
the characteristics desired.<br />
The choice is determined by the Internal Revenue Service based on all the facts<br />
and circumstances.<br />
The choice is determined solely by whether the primary business is services or<br />
goods.<br />
13.) Which of the following is true in the creation of a general partnership?<br />
The business name cannot be a fictitious name.<br />
The business name must have the names of all the partners.<br />
The business cannot operate under a trade name.<br />
The name selected cannot indicate that it is a corporation.<br />
14.) Which type of business formation is typically reserved for professionals<br />
such as accountants, lawyers, and doctors?
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