Name that Ownership
Partnerships
Partnership II
Potpourri
Miscellaneous
100
Type of ownership in which the owner or owners have unlimited personal responsibility for all debts and liabilities
What is proprietorship
100
"Strong fences good neighbors make". What are the fences in a partnership.
What is the partnership agreement.
100
This occurs when two or more persons or firms combine their resources and skills to do a complex project.
What is a joint venture
100
The stage between dissolution and termination.
What is winding-up period
100
What is the unit of currency in Russia
What is the ruble
200
List three advantages of proprietorship.
What are ease and low cost of starting up, flexibility, unity of control, all profits and losses go tot he sole proprietor.
200
In this type of partnership at least one partner must be a general partner, with unlimited liability.
What is a limited partnership
200
These are the two classifications by purpose that a partnership can be put into
What are trading and non-trading
200
Which of the following is not a partners authority: Borrow Money in Firms name, Hire but not fire employees, Receive money owed to and settle claims.
What is Hire but not fire employees,
200
This player the record for most consecutive games played in the NBA
Who is A.C. Green
300
The most used form of business organization.
What is sole proprietorship
300
This type of partner is neither known to the public, nor active in management.
What is dormant partner
300
This means that each partner is a co-owner of the entire partnership property and is not the sole owner of any part of it.
What is tenancy in partnership
300
What type of business ownership is taxed twice
What is a corporation
300
He was the 10th president of the United States
Who is John Tyler
400
The UPA stands for this_____________.
Uniform Partnership Act
400
What does RULPA stand for
What is the Revised Uniform Limited Partnership Act
400
If the organization is a ___________, a partner normally may withdrawl at any time without laibility to the associates.
What is a partnership at will
400
What kind of business ownership was our guest speaker on Friday currently in? (Be specific)
What is LLP
400
What is the only bird that can fly backward
What is the humming bird
500
Three disadvantages of corporations.
What are hard and complex to form, formal organization, formal record keeping, double taxation.
500
Name two of the three powers a partnership has
What are take title and transfer property in own name, be regarded as a principal (all partners are agents), use its own assets as security for loans.
500
Name three out of the four things a limited partner can do without losing their limited status.
What are be an independent contractor or employee of partnership, consult with or advise, general partner, attend meeting of general partners, approve or disapprove (vote) for dissolution or changing of partnership.
500
Due to limited risk, corporations may attract larger _______ than the other forms of business orgnizations.
What is sums of capital
500
What 1996 movie was hyped with the line: "It Will Blow Audiences Right Out of the Theater"?
What is Twister
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