Biz Law Ch 2 Business Legal Basics
Authored by Morgan Keck
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37 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
All states have the same legal requirements when it comes to forming and running a business organization.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Partnerships can begin with just a verbal agreement, but legally, it is pushed to create a partnership agreement.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Sole Proprietorships are fully in charge of all aspects of their day-to-day business activities.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
LLC’s are known for helping protect owners’ personal assets.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
A corporation is not a legal entity separate from its shareholders.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
The purpose of a non-profit is something other than making a profit and it benefits the public.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Non-profits do not have as much paperwork as other business entities when it comes to forming and running their business.
True
False
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