BA 200 FINAL EXAM | LATEST UPDATE | 2025/26
QUESTIONS WITH PASSED ANSWERS.
Which of the following forms of business structure can be created without
compliance with statutory paperwork requirements? Answer - general
partnership
Which of the following is NOT a requirement for the articles of incorporation
for creating a corporation? Answer - the names and addresses of the officers
of the corporation
Who elects the officers of a corporation? Answer - the board of directors
The business judgment rule: Answer - applies to the duties and responsibilities
of a director on a corporate board.
Which of the following is true of a sole proprietorship? Answer - it is not a
business entity
A partnership by estoppel: Answer - results when a third parties led to believe
a partnership exists
A limited partnership: Answer - requires at least 1 general partner
, Dissolution: Answer - can result from the death of a partner
The corporate veil can be pierced when: Answer - personal and corporate
assets and debts are mixed.
A shareholder proxy is: Answer - a transfer of a right to vote
Andy, Tim, Roy, and Adrian are partners in a real estate firm. Adrian has just
died. Adrian's widow: Answer - none of the answers
Acme, Ltd. is in the process of dissolution. Which is the proper order for
distribution of assets upon dissolution of a limited partnership? Answer -
outside creditors; distributions owed to partners; capital contributions;
remainder split according to distribution agreement
The CEO of Citigroup announced an $8 billion write-down for the company
because of bad loans. This announcement followed a previous announcement
of a $5 billion write-down three quarters earlier. The board asked him to step
down. Which of the following statements is correct? Answer - The board has
the authority to remove a CEO.
Melissa wants to form an entity to start her new business. Which of the
following forms of business structure has the easiest means of transfer of
ownership interests should she decide to go public? Answer - C corporations
Brant is forming an entity to start a new business, and wants to ensure that his
personal assets are protected from a judgment creditor. Which of the following
forms of business structure would provide limited liability for the personal
assets of the owner? Answer - LLC
QUESTIONS WITH PASSED ANSWERS.
Which of the following forms of business structure can be created without
compliance with statutory paperwork requirements? Answer - general
partnership
Which of the following is NOT a requirement for the articles of incorporation
for creating a corporation? Answer - the names and addresses of the officers
of the corporation
Who elects the officers of a corporation? Answer - the board of directors
The business judgment rule: Answer - applies to the duties and responsibilities
of a director on a corporate board.
Which of the following is true of a sole proprietorship? Answer - it is not a
business entity
A partnership by estoppel: Answer - results when a third parties led to believe
a partnership exists
A limited partnership: Answer - requires at least 1 general partner
, Dissolution: Answer - can result from the death of a partner
The corporate veil can be pierced when: Answer - personal and corporate
assets and debts are mixed.
A shareholder proxy is: Answer - a transfer of a right to vote
Andy, Tim, Roy, and Adrian are partners in a real estate firm. Adrian has just
died. Adrian's widow: Answer - none of the answers
Acme, Ltd. is in the process of dissolution. Which is the proper order for
distribution of assets upon dissolution of a limited partnership? Answer -
outside creditors; distributions owed to partners; capital contributions;
remainder split according to distribution agreement
The CEO of Citigroup announced an $8 billion write-down for the company
because of bad loans. This announcement followed a previous announcement
of a $5 billion write-down three quarters earlier. The board asked him to step
down. Which of the following statements is correct? Answer - The board has
the authority to remove a CEO.
Melissa wants to form an entity to start her new business. Which of the
following forms of business structure has the easiest means of transfer of
ownership interests should she decide to go public? Answer - C corporations
Brant is forming an entity to start a new business, and wants to ensure that his
personal assets are protected from a judgment creditor. Which of the following
forms of business structure would provide limited liability for the personal
assets of the owner? Answer - LLC
