True of partnerships and corporations

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Reference no: EM132193483

1. The seriousness of a crime is defined by the nature or duration of the punishment set out in the statute.

True

False

2. Which of the following is true of partnerships and corporations?

A) Partnerships are easier to form when compared to corporations.

B) All the shareholders in a publicly held corporation have equal rights in management and conduct of business.

C) Partners can easily transfer their interest in partnerships through stocks when compared to corporations.

D) A corporation is a conduit for income and is not taxed as a separate entity.

E) Ownership and control of partnerships are separated.

3. A New York statute makes it a(n) _____ to use the name, portrait, or picture of any person for advertising purposes or for the purposes of trade (business) without first obtaining written consent.

A) quasi-criminal offence

B) misdemeanor

C) infraction

D) felony

E) absolute liability offence

Reference no: EM132193483

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