MNB1501 Assignment 2 Semester 1 2024 (Solutions)
Question 1
Not yet answered
Marked out of 1.00
Flag question
Question text
Which one of the following statements is true regarding a partnership?
a.
The enterprise has a lack of continuity in that a new enterprise will be formed when ...
Assessment 2
Open block drawer
Started on Thursday, 28 March 2024, 9:36 PM
State Finished
Completed on Thursday, 28 March 2024, 9:52 PM
Time taken 16 mins 32 secs
Marks 16.00/20.00
Grade 80.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Which one of the following statements is true regarding a partnership?
a.
The enterprise has a lack of continuity in that a new enterprise will be formed when the previous one is disbanded.
b.
A founding statement and a Memorandum of Incorporation are needed to start this form of enterprise.
c.
The enterprise has the advantage of being a legal person that exists separately from its members.
d.
The members’ personal assets in their private estates are not at risk of being lost in the business.
Feedback
Your answer is correct.
The correct answer is the enterprise has a lack of continuity in that a new enterprise will be formed when the
previous one is disbanded. Refer to section 3.7.
The correct answer is:
The enterprise has a lack of continuity in that a new enterprise will be formed when the previous one is disbanded.
Question 2
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Which one of the following statements is NOT true regarding a business with a legal personality?
a.
The business is dependent on its members.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller itsbesttutors. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.76. You're not tied to anything after your purchase.