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NEW QUESTION: 1
-- Exhibit- -- Exhibit -

Based on how she behaves in this excerpt, what kind of person is Maud Martha?
A. gloomy
B. arrogant
C. kind
D. petty
E. silly
Answer: C

NEW QUESTION: 2
White, Grey, and Fox formed a limited partnership. White is the general partner and Grey and Fox are the
limited partners. Each agreed to contribute $200,000. Grey and Fox each contributed $200,000 in cash
while White contributed $150,000 in cash and $50,000 worth of services already rendered. After two
years, the partnership is insolvent. The fair market value of the assets of the partnership is $150,000 and
the liabilities total $275,000. The partners have made no withdrawals.
Unless otherwise provided in the certificate of limited partnership, which of the following is correct if Fox
assigns her interest in the partnership to Barr and only White consents to Barr's admission as a limited
partner?
A. Barr will not become a substituted limited partner unless Grey also consents.
B. Barr will have the right to inspect the partnership's books.
C. The partnership will be dissolved.
D. Barr will become a substituted limited partner because White, as general partner, consented.
Answer: A
Explanation:
Choice "a" is correct. In the absence of an agreement between all partners, the assignment of a partner's
interest does not make the assignee a substitute partner; it merely transfers the assignor's rights to
distributions to the assignee. Choice "b" is incorrect. Absent an agreement among the partners otherwise,
an assignment of an interest in a partnership is merely an assignment of the assignor's rights to receive
distributions from the partnership and does not give the assignee any right to inspect the partnership's
books. Choice "c" is incorrect. Absent an agreement among the partners otherwise, an assignment of an
interest in a partnership is merely an assignment of the assignor's rights to receive distributions from the
partnership; it does not make the assignee a new partner. Since there is no change in who is a partner,
there is no dissolution. Choice "d" is incorrect. All partners must agree to make someone a partner, not
just the general partner.

NEW QUESTION: 3
In which type of business entity is the entire ownership interest most freely transferable?
A. Corporation.
B. Limited liability company.
C. Limited partnership.
D. General partnership.
Answer: A
Explanation:
Choice "c" is correct. Among the business entities listed, entire ownership interests are most freely
transferable in a corporation. Unless transferability is restricted by contract (restricted shares or voting
trusts or voting agreements), there are no restrictions on the sale of corporate stock (the common stock
represents the stockholders' ownership interest). The right to transfer ownership interests freely is one of
the advantages of the corporate form of business. Choice "a" is incorrect. A general partner in a general
partnership may assign his or her right to receive profits or surplus. A general partner cannot assign his
interest and confer partnership status on the assignee without unanimous consent of all other partners.
Choice "b" is incorrect. Both general partners and limited partners in a limited partnership may assign the
right to receive profits and surplus. Neither general nor limited partners can confer general or limited
partnership status on the assignee without the unanimous consent of all general and all limited partners.
Choice "d" is incorrect. In most states, limited liability company (LLC) members may not sell and confer
ownership interest without the consent of all LLC members.

NEW QUESTION: 4
How do you configure the employee information section on the performance form to preserve the user
information that existed at the time the form was created, even if the user information was changed after the
form
was created? (1 Answers)
A. By setting the attribute sync-until-completion-'false"
B. By setting the attribute auto-populate -'false"
C. By setting the attribute autosync-'false"
D. By setting the attribute auto-populate -'true"
Answer: A