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Roach: Card & James' Business Law 4e

Chapter 18: Multiple choice questions

Instructions

Answer the following questions and then press 'Submit' to get your score.

Question 1

Regarding sole proprietorships, which one of the following statements is NOT true?

Question 2

A partnership agreement must be in writing. True of False?

Question 3

A partnership can consist of both natural and legal persons. True or False?

Question 4

Identify which one of the following statements is NOT true?

Question 5

There exists a special form of partnership called a limited partnership. Which one of the following statements concerning limited partnerships is NOT true?

Question 6

It is a prudent step to have in place, before the partnership begins trading, a written partnership agreement setting out the rights and obligations of the partner. Bearing this in mind, which one of the following statements is NOT true?

Question 7

Which one of the following is NOT a term implied by the Partnership Act 1890?

Question 8

Partnership agreements constitute a contract of utmost good faith and, accordingly, the Partnership Act 1890 imposes a number of fiduciary duties upon the partners. Regarding such duties, which ONE of the following statements is NOT true?

Question 9

Regarding 'partnership property,' which one of the following statements is NOT true?

Question 10

Upon dissolution, once the losses of the partnership have been paid, the remaining assets must be applied in a set order. What should these assets be used to pay first?