Bul 3130 Final exam 2023 with 100% correct answers
16 keer bekeken 0 keer verkocht
Vak
BUL 3130
Instelling
BUL 3130
• Sole Proprietorship - correct answer -owner is the business. Responsible for rising capital and liable for all debts
o Fictitious Name - correct answer -any name other than the name of the individual.
• Partnership - correct answer -2 or more business partners. State law now says for ma...
Bul 3130 Final exam 2023 with 100% correct answers
• Sole Proprietorship - correct answer -owner is the business. Responsible for rising capital and liable for
all debts
o Fictitious Name - correct answer -any name other than the name of the individual.
• Partnership - correct answer -2 or more business partners. State law now says for many issues a partnership can be treated as an independent entity.
o Fiduciary Duty - correct answer -each partner acts in good faith for the benefit of the partnership
Winding up of a partnership involves - correct answer -completing any unfinished business and then collecting and distributing the partnership's assets.
• Limited Partnership - correct answer -2 or more business partners. Not all partners have the right to participate in management and not all are liable for debts
• Corporations - correct answer -a legal entity.
o Bylaws - correct answer -rules that regulate and govern the internal operations.
o Close Corporation - correct answer -one whose shares are held by one shareholder or a small group.
o Proxy - correct answer -written authorization to cast a shareholder vote so they don't have to attend the meeting o Business Judgment Rule - correct answer -makes directors and managers immune from liability when problems result from honest mistakes in judgment.
• Professional Corporation (PC) - correct answer -groups of doctors or professionals in practice together.
Only liable for what you put in. Not responsible for someone else's malpractice or negligence.
• Limited Liability Company (LLC) - correct answer -treated like a corporation for liability purposes and a partnership for tax purposes.
Nat'l Labor Relations Act 1935 - correct answer -created: the opportunity and the right for labor to unionize, strike and engage in collective bargaining with management
Environmental Protection Agency - correct answer -has primary responsibility for four major external environmental problems: air pollution, water pollution, land pollution, and pollution associated with certain products.
• Chapter 7 - correct answer -"Fresh Start"—liquidation and fair distribution of the debtor's non-exempt assets to creditors. Usually voluntary.
o Liquidating bankruptcy is - correct answer -available for businesses, but only individuals can use Chapter 7 to obtain discharge.
o Immediate _____ placed against all actions against the debtor/debtor's property by any creditors. Applies to _______. - correct answer -freeze; individuals, corporations, everyone.
• Chapter 9 - correct answer -bankruptcy for municipal governments
• Chapter 11 - correct answer -applies to businesses that wish to remain in business and not be liquidated.
• Debtor in Possession - correct answer -debtor who remains in control of a business or assets under chapter 11 and reorganization. (Up to 5 years to pay off debt.)
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper JUICYGRADES. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €15,96. Je zit daarna nergens aan vast.
