Match the terms with their descriptions:
-De facto corporation
A) Occurrence requiring the partnership to eventually terminate
B) Unincorporated business owned and controlled by one person
C) Partnership in which only the partnership is liable for the tort liabilities of the partnership
D) Corporation organized in the state in which it is operating
E) Form of business organization having the tax benefits of a partnership and the limited liability benefits of a corporation
F) Association of two or more persons for the purpose of carrying on as co-owners in a business for profit
G) Enterprise relationship in which two or more people combine their labor or property for a single business undertaking
H) Corporation existing in fact
I) Partners that manage the business and are personally liable for its debts and obligations
J) Person or business who gives a franchise to another
Correct Answer:
Verified
Q46: Match the terms with their descriptions:
-Domestic corporation
A)
Q47: Match the terms with their descriptions:
-Dissolution
A) Occurrence
Q48: Match the terms with their descriptions:
-Limited liability
Q49: Match the terms with their descriptions:
-Franchiser
A) Occurrence
Q50: Match the terms with their descriptions:
-Co-partnership
A) Occurrence
Q52: Match the terms with their descriptions:
-Limited liability
Q53: Match the terms with their descriptions:
-Sole proprietorship
A)
Q54: Match the terms with their descriptions:
-Syndicate
A) Occurrence
Q55: Match the terms with their descriptions:
-General partners
A)
Q56: Define a sole proprietorship and identify its
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