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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 118122
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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11. The primary difference between general and limited partnerships

Resolved Question:

11. The primary difference between general and limited partnerships is the limitation on the
A. number of partners.
B. liability of the partners.
C. number of agents.
D. amount of money the partnership can make.
12. The Securities and Exchange Act of 1934 focuses primarily upon
A. divulging information to investors.
B. ensuring that investors don’t lose their investments.
C. prohibiting deceptive practices regarding securities trading.
D. ensuring that investors make informed decisions about securities trading.
13. Freddie and Richard are law partners. After 25 years in the partnership, Richard dies of
old age. The partnership should be terminated due to
A. acts of the partners. C. judicial decree.B. operation of law. D. act of God.
14. Stuart and Cole enter a business venture together in which they both agree to contribute
funds, money, and time to a sporting goods store. Furthermore, the two agree
to equally split any and all profits. Stuart and Cole have entered into a
A. sole proprietorship. C. limited liability company.
B. corporation. D. partnership.
15. A Company is a new company just recently incorporated. The company has a board of
directors, officers, and shareholders. Which of the following is true about this set of
A. The directors and officers are primarily responsible for the management of the
B. The shareholders are primarily responsible for the management of the corporation.
C. The officers are solely responsible for the management of the corporation.
D. Both the shareholders and the directors are responsible for the management of
the corporation.
Submitted: 6 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 6 years ago.
11. B

12. C

13. B (Operation of law, death of partner terminates partnership).

14. D

15. A

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