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NEW QUESTION 47
Partnership democracy is:

A. the sharing of management by all partnersB. a synonym for silent partnerC. permission granted to the general partner to act outside the partnership agreementD. a prohibition against control by a single partner

Answer: C

Explanation:
Explanation/Reference:
Explanation: permission granted to the general partner to act outside the partnership agreement. The limited partners may approve of the general partner pursuing an act that is contrary to the partnership agreement.

 

NEW QUESTION 48
How much currency is one mil worth?

A. one-tenth of $1,000B. one-tenth of $100C. one-tenth of $1D. one-tenth of one cent

Answer: C

Explanation:
one-tenth of one cent. A point equals $10 and a basis point equals ten cents.

 

NEW QUESTION 49
Regulation A permits a short form of filing for offerings of new securities provided the total amount of the offering does not exceed:

A. $2,500,000B. $1,000,000C. $5,000,000D. $2,000,000

Answer: C

Explanation:
$5,000,000. This is the maximum under Regulation A.

 

NEW QUESTION 50
......

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