Forms of Business Organization
What are the three main forms of business organization?
What is Sole Proprietorship, Partnership, and Corporation
What is Partnership Agreement?
The terms and conditions that the partners agree on the guide them in managing the partnership
What is Joint Venture?
Occurs when two or more people combine their resources and skills to do a specific project.
Name The 4 principal rights of a partner.
Right to participate in management, right to profits, right in partnership property, and right to extra compensation
If you drop me,I'm sure to crack.Give me a smile and I'll always smile back.
What am I?
What is a mirror
When a Instagram model sponsors Flat Tummy Tea, that is an example of
What is Partnership
What are the 2 types of partnership?
What is General Partnership and Limited Partnership
Termination of a partnership generally occurs in three distinct phases.
What is Dissolution, Winding-up period, and the legal termination of the the partnership
What are the duties of partners?
Comply with partnership agreement and decisions, use reasonable care, act with integrity and good faith , not conduct competing business, and keep accurate records
You answer me, although I never ask you questions.
What am I?
A telephone
Running a landscaping company is an example of
What is Sole Proprietorship
Name all the general partners
Silent partner, Secret partner, Dormant partner
If a partner becomes insane the partnership is dissolved.
True
The property is held in a special form of co-ownership is called
What is Tenancy in partnership
What room do ghosts avoid?
The living room
Apple and Android are examples of
What is Corporation
Explain the Classification of purpose
A trading partnership buys and sells goods and services commercially.A non-trading partnership provides professional and noncommercial assistance.
Dissolution of a partnership is usually followed by what is referred to as a stepping-down period.
False
Every general partner has an equal right to participate in management of the firm?
True
Why didn't the Mummy have any friends?
He was too wrapped up in himself
What does Sole Proprietorship and Partnership have in common?
What is Unlimited Liability
What is the difference between a general partner and a limited partner?
A general is a owner, has unlimited liability, and is active in managing. A limited is a owner who invests money, has no management responsibility, and no liability for loss beyond investment
Partnership in which a partner may withdraw at any time without liability to other partnership.
What is Partnership at will
Which of the following is a duty of a partner?A. comply with partnership decisions. B.not conduct competing business. C.keep accurate records. D.all of the above
D.all of the above
A father's child, a mother's child, yet no one's son.
What am I
The daughter