A copyright holder has no right to control the reproduction, distribution, public
performances, derivative works and public displays of the created work.
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False. The copyright holder has the exclusive right to the work
Partnerships do not have to file any tax returns
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False. They have to file informational tax returns.
,AformerUnitedNationsambassadorwhohadservedasgeneralassemblypresident,
allegedly took more than $1.3 million in bribes including luxury items and cash from
several businessmen, including a real estate developer. The real estate developer "...,
through intermediaries, paid the ambassador more than $500,000 to submit a
document telling the U.N. secretary general that a yet-to-be built multibillion-dollar
U.N.-sponsored conference center in
Macau was needed..." What would the developer's maximum penalty be if the FCPA
applied? http://www.reuters.com/article/2015/10/07/us-usa-crime-macau-
idUSKCN0S01CG20151007
$2.6million.
$1 million.
$1.3 million.
two times the benefit that the developer would receive for building the resort.
Give this one a try later!
two times the benefit that the developer would receive for building the
resort.
Which of the following forms of business structure provide limited liability for the
personal assets of all the owners?
a. Sole proprietorships.
b. Limited partnerships.
c General partnerships.
d. Limited liability companies
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, d. Limitedliabilitycompanies.*
Limited partnerships protect the assets of limited partners only, but the
general partners are personally liable for the company's debts.
Officers and directors are fiduciaries of the corporation, so they must act in the best
interests of the corporation and they may not profit at the corporation's expense. .
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True
The Howey test
a. defines a security as a "contract, transaction, or scheme whereby a person invests
his money in a common enterprise and is led to expect profits solely from the efforts
of a promoter or third party."
b. can be passed by a license securities dealer.
c. was established by the United States Supreme Court.
d. Both a and c.
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d. Both a and c.
The Securities Exchange Act of 1934 of 10 (b) can be violated negligently.
, Give this one a try later!
False. There must be scienter or intent to defraud.
Copyrights protect expressions of ideas, but not the ideas themselves.
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True. The expression of the idea is protected.
If limited partnership interests are easily transferable, the organization may be treated
as a corporation by the IRS
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True. See the Tax Consequences section on page 697 and the
Transferability of Interests section
Jack and Jill decide to go up the hill to fetch a pail of water and to sell it to a local
restaurant and split the proceeds. They will be considered
a. tobegeneralpartnersonlyiftheysignaformalpartnershipagreement.
b. to be general partners as a partnership by implication.
c. to be general partners in a partnership by estoppel.
d. Noneoftheanswerschoicesiscorrect.
performances, derivative works and public displays of the created work.
Give this one a try later!
False. The copyright holder has the exclusive right to the work
Partnerships do not have to file any tax returns
Give this one a try later!
False. They have to file informational tax returns.
,AformerUnitedNationsambassadorwhohadservedasgeneralassemblypresident,
allegedly took more than $1.3 million in bribes including luxury items and cash from
several businessmen, including a real estate developer. The real estate developer "...,
through intermediaries, paid the ambassador more than $500,000 to submit a
document telling the U.N. secretary general that a yet-to-be built multibillion-dollar
U.N.-sponsored conference center in
Macau was needed..." What would the developer's maximum penalty be if the FCPA
applied? http://www.reuters.com/article/2015/10/07/us-usa-crime-macau-
idUSKCN0S01CG20151007
$2.6million.
$1 million.
$1.3 million.
two times the benefit that the developer would receive for building the resort.
Give this one a try later!
two times the benefit that the developer would receive for building the
resort.
Which of the following forms of business structure provide limited liability for the
personal assets of all the owners?
a. Sole proprietorships.
b. Limited partnerships.
c General partnerships.
d. Limited liability companies
Give this one a try later!
, d. Limitedliabilitycompanies.*
Limited partnerships protect the assets of limited partners only, but the
general partners are personally liable for the company's debts.
Officers and directors are fiduciaries of the corporation, so they must act in the best
interests of the corporation and they may not profit at the corporation's expense. .
Give this one a try later!
True
The Howey test
a. defines a security as a "contract, transaction, or scheme whereby a person invests
his money in a common enterprise and is led to expect profits solely from the efforts
of a promoter or third party."
b. can be passed by a license securities dealer.
c. was established by the United States Supreme Court.
d. Both a and c.
Give this one a try later!
d. Both a and c.
The Securities Exchange Act of 1934 of 10 (b) can be violated negligently.
, Give this one a try later!
False. There must be scienter or intent to defraud.
Copyrights protect expressions of ideas, but not the ideas themselves.
Give this one a try later!
True. The expression of the idea is protected.
If limited partnership interests are easily transferable, the organization may be treated
as a corporation by the IRS
Give this one a try later!
True. See the Tax Consequences section on page 697 and the
Transferability of Interests section
Jack and Jill decide to go up the hill to fetch a pail of water and to sell it to a local
restaurant and split the proceeds. They will be considered
a. tobegeneralpartnersonlyiftheysignaformalpartnershipagreement.
b. to be general partners as a partnership by implication.
c. to be general partners in a partnership by estoppel.
d. Noneoftheanswerschoicesiscorrect.
