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An entrepreneur can form a business with only one owner under which of the following forms?

1. An entrepreneur can form a business with only one owner under which of the following forms? A. general partnership b. limited partnership c. limited proprietorship d. corporation e. all of the above

2. Which of the following statutes amended the National Labor Relations Act? A. the Norris-Laguardia Act b. the Labor-management relations act c. the worker adjustment and retraining notification act. D. the labor management reporting and disclosure act

3. The DEF Corporation is incorporated in Texas. It wishes to do business in Oklahoma. Before DEF can legally do business in Oklahoma, which of the following must it do?

a. DEF must qualify (register)to do business in Oklahoma b. since DEF is a Texas corporation it cannot do business in Oklahoma c. DEF must domicile itself in Oklahoma d. DEF must incorporate in Oklahoma e. nothing: DEF automatically has a constitutional right to do business in Oklahoma

4. The Black Squirrel limited partnership has been in operation for many years, but has recently fallen on hard times. The partners have decided to dissolve, although there are few assets remaining in the partnership. Shortly after the partnership filed its certificate of limited partnership, the partners had the foresight to incorporate into their partnership agreement a provision that, in the event of dissolution, the assets would be distributed in payment of claims first to limited partners, then to general partner, then to creditors. Hilda is a limited partner and feels relieved that she will receive at least a portion of her capital. Henry, one of the general partners said that this provision is void and unenforceable. Which of the following best describes this situation? A. the provision placing the partner ahead of creditors in not enforceable, but the priority of limited partners over general partners is enforceable. B. the distribution as called for in the agreement is enforceable even though is was not included in any filing associated with the limited partnership. C. the distribution of assets in the event of dissolution is one of the few provision where the revised uniform limited partnership act does not allow modification. D. the provision placing limited partners ahead of general partners in unenforceable, thus all partners would be on an equal footing and ahead of creditors. E. the distribution as called for in the agreement would be enforceable if it had been included in any filings related to the limited partnership.

5. which of the following is true regarding the liability of the partners in a limited partnership? A. both the limited and general partners have unlimited liability for the partnership debts. B. the limited partners have unlimited liability and the general partners have limited liability for the partnership debts. C. neither the limited nor the general partners have unlimited liability for the partnership debts. D. the limited partners have limited liability and the general partners have unlimited liability for the partnership debts. E. if a corporation is a partner, its shareholders have unlimited liability for the partnership debt.

6. A principal gives an agent express authority to "get his car running right" the authority that the agent has to enter into contract for the purchase of auto parts is: a. express authority b. implied authority c. authority by estoppel d. apparent authority e. inherent authority

7. Which is true about employers and solicitations of employees by unions? A. the employer can prohibit all solicitations of employees on work premises b. the employer can require that all solicitations be approved by management c. the employer can bar solicitations that express unfavorable opinions about the employer d. the employer can restrict solicitations to nonworking areas, such as the parking lot, and can limit the solicitations to the employees free time.

8. As the Wyoming Tetons are playing the Missouri Ozarks in a baseball game, a fan who is sitting near the Tetons dugout starts yelling at Micky Macho, one of the relief pitchers, that his pink minivan makes him look like a suburban family man, Macho, because he feels insulted, picks up a nearby bench and throws it at the fan, who gets injured by this action. The fan then sues the Tetons. The fan could recover from the Tetons: a. under neither the work related test nor the motivation test. B. under the motivation test but not under the work related test. C. under the work related test but not under the motivation test d. under either the motivation or the work related test.

9. Mary goes to work for Rocky Mountain Company which has a pension plan requiring her to work at least 10 years in order to be entitled to her benefits if she quits. This is a violation of: a. social security act b. fair labor standards act c. equal pay act d. employee retirement income security act e. none of these are correct.

10. Which of the following is true about removing a member of the board of directors from the board before that directors term is over? A. board members can be removed only if they are found to be in violation of the business judgment rule b. board members can be removed with or without cause by the remaining members of the board or by shareholders, unless the articles of incorporation provide otherwise c. board members can be removed with or without cause, but only by the shareholders and not by the remaining board members, unless the articles of incorporation provide otherwise. D. board members cannot be removed without cause, and any attempt in the articles of incorporation or the bylaws to allow removal without cause is ineffective. E. board members can only be removed for cause, unless the articles of incorporation provide otherwise.

Operation Research, Management Studies

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