Give answer within 45 min Please I will give you upvotes its very urgent .....thankyou.. Which of the following statements is not trueabout a family member partner in a servicesbusiness where no products are sold?(1) The family members must have joined togetherin good faith.(2) The family members must have writtenagreement.(3) The family members must agree thatcontributions of each entitle them to share in theprofits.(4) each of the family members must providesome capital or service.

Family business partnerships are a kind of partnerships in which family members are involved. The…

Answered: Which of the following statements is…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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1.1) Differentiate between the different types of partnerships. In your answer:• identify the types of partnership• explain the characteristics of that particular partnership• explain the liability of each of the partners with respect to the type ofpartnership 1.2) Judy is a shareholder in Pat-X Ltd. She believes that she can use the sharecertificate to make a payment. She wants to exchange the certificate for apair of shoes. The last time she checked the shares were valued at a R1000and she figures she could put them to good use. Can she do so? Discuss withreference to the nature of a share certificate.
Jeremy is considering a corporate recapitalization as a gifting technique and has come to his financial planner for more information. Which of the following statements regarding corporate recapitalization are CORRECT? The stock is recapitalized and divided into nonvoting preferred stock and voting common stock. Jeremy retains control of the corporation through the voting rights associated with his preferred stock. Recapitalization can be used in any corporation. The gift of stock given to the junior family members may qualify for valuation discounts. A) II, III, and IV B) I and III C) II and IV D) I and II
1. The reasons for involving more than one person in ownership or operation of a business entity do not include: a. The ability to shift risks to third persons. b. The ability to diversify risks. c. The ability to achieve economies of scale. d. All of the above are reasons to involve more than one person. 2. “Agency cost” means: a. The commission that is paid an agent for obtaining a contract. b. The pay due to one’s employees. c. The costs to the principal associated with an agent’s motive to serve him or herself. d. Profit-sharing or other arrangements to align an agent’s motives with those of his or her principal. 3. “Limited liability” means: a. That an investor cannot lose his or her investment. b. That an investor cannot lose more than his or her investment. c. That an investor can lose his or her investment and may be responsible for a designated percentage or amount in excess of his or her investment. d. That an investor must refrain from active management in order to limit…
Which of the following is not true of a limited liability partnership? * Most states restrict this form of ownership to certain types of O professions such as attorneys, physicians, dentists, accountants, etc. It must involve a general partner, a limited partner, a silent partner, and a dormant partner. Although LLPS have many of the O characteristics of partnerships, they are taxed as a corporation. All partners are limited partners.
I need answer typing clear urjent no chatgpt plz pls explain all Contracts entered by a public company after obtaining the certificate of incorporation, but before getting the certificate to commence business are termed as: a. Preliminary agreements b. Contracts at arm's length c. Pre-incorporation contracts d. Provisional contracts
3 - Which of the following bills has the right to receive it?A) BondB) Bill of ladingC) StockD) WarrantE) Redeemed share
Which of the following statements is correct in relation to limited partners? Select one: a. Their liability is limited to the capital they have agreed to invest in the partnership b. They have no liability for partnership debts c. They have full liability for partnership debts.
4. Which of the following statements are true about an S Corporation? Group of answer choices A. Shareholders of an S Corps have limited liability B. Shareholders of an S Corps are liable for all profits and losses as a flow-through tax entity C. S Corps only have one class of stock D. S Corps limit the number of shareholders to no more than 100 E. All of the above are true
Which one of the following statements is FALSE? OA) Interest is tax deductible while the dividend is not. B) Shareholders have the residual rights to the return of capital in the event of liquidation. C) Both shareholders and debt holders can vote at the Annual General Meeting D) Interest is the obligation of the company while the dividend is not.
(1) If you were on the board of directors at a companyand the CEO proposed a merger with a topcompetitor, what types of questions would you wantanswered before you gave your approval? (2) If aCEO has an opportunity to merge with or acquireanother company and is reasonably certain that thetransaction will benefit shareholders, is the CEOobligated to pursue the deal? Why or why not?
5. Which of the following distinguishes a partnership from a corporation? A) A partnership is formed by two or more owners. B) There is a relative ease in financing the operations and investments of the company due to owners pooling their resources. C) Multiplicity of owners is beneficial for brainstorming. D) The liability of the firm generally extends to its owners. 6. Which of the following best describes agency cost? A) Costs involved with any effort to minimize the conflict between the principal's interest and the 2/3. B) Cost incurred by an agent to facilitate the creation of an agency relationship with theirprincipal. C) Cost incurred by a principal to establish an agency. D) Agency costs are irrelevant costs that are not measurable nor recognized in the face of the Financial Statement and is therefore not a cost to a company. in the long-term. 7. Which of the following is a valid reason why Financial Managers should put emphasis on long-term growth rather than short-term profit…
You have incorporated a business which a pack of Tommies now seeks to take over. You oppose this and also feel that the Tommies should use their "education" and start their own business instead of taking the easy way by trying to acquire your successful business. However, your shareholders have been offered a higher than market value for their shares by the aggressor. Briefly describe your duties and responsibilities as an officer/board member to your shareholders. 2 Based upon the price offered by the Tommie group, your shareholders appear to be in favor of this take-over. Identify and describe (6) methods that would enable you to effectively resist the take-over.

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