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Question
There are two key groups outside one's business with which one must dealcustomers and investors.Answer
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A(n) _____ refers to a contract among LLC members outlining how the LLC will conduct itself.
A. operating agreement
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Which of the following is true of a limited liability company (LLC)?
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Which of the following is true regarding a small-claims court?
A. These courts will only accept cases where the stakes are as large as $50,000 or above.
B. Most of these courts are designed so that ordinary citizens can bring their cases in.
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When using a(n) _____, the attorney will be paid a specified amount every month regardless of the workload for that month.
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By agreeing to an exculpatory clause in a contract, one party is agreeing not to hold the other responsible for his or her actions.
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All business contracts have to be in writing to be enforceable.
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In a professional corporation, the shareholders are responsible for debts of the corporation.
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The name of a business can be called its doing business as (dba) name.
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Contingency fees are a fixed amount paid for a certain task.
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Describe the advantages and disadvantages of a sole proprietorship.
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Which of the following statements is true regarding a trademark?
A. A trademark can sometimes also function as a service mark.
B. A trademark once granted lasts for 25 years.
C. A trademark can only be renewed every 5 years.
D. A trademark is not an exclusive right to its creator.
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The Nike "swoosh" is an example of a _____.A. trade secretB. copyrightC. trademarkD. patent
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The most highly desired form of insurance for most employees is _____.
A. life insurance
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_____ repay employers for losses caused by dishonest or negligent employees.
A. Credit insurance
B. Business interruption insurance
C. Surety bonds
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A contract between two or more parties in which one party agrees, for a fee, to assume the risk of another is called _____.
A. coverage
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Which of the following statements is true regarding the OSHA Act?
A. It covers employees in mining, transportation, and state and local governments.
B. OSHA offers consultation services to employers for a fee.
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D. OSHA-defined "low-hazard" industries are exempt from the record keeping requirements of the regulations.
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A type of internal control that separates the physical control of an asset from the person accounting for that asset is called _____.
A. asset liability
B. adverse possession
C. separation of duties
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