Question 1
1. Each of the following business entities is characterized as having “flow-through” or
“pass-through” taxation in which the owners of the business are taxed for any profits they
receive, but not the business itself, EXCEPT:
a. General partnership
b. C corporation
c. S corporation
d. Limited partnership
1 points
Question 2
1. The term intellectual property means rights in tangible property, or real things that you
can touch and feel.
True
False
1 points
Question 3
1. A nonprofit corporation is not required to have any authorized shares of stock and does
not have any shareholders.
True
False
1 points
Question 4
1. If a corporation “does business” (i.e., leases office space, hires employees, sells goods,
etc.) in one state but chooses to establish itself under the law of a different state, it is
called a ________ corporation in the state in which it does business.
a. Domestic
b. Foreign
c. Interstate
d. National
1 points
Question 5
1. Bobby Flay is a world-famous chef. Bobby Flay has created his own brand of gourmet
cooking sauces called “Flaming Flay Grill Sauces.” To claim a trademark to this name,
Bobby Flay must file an application with both the federal and state governments seeking
to register the name.
True
False
1 points
Question 6
1. What is the minimum number of members one must have to form a limited liability
company in most jurisdictions?
a. One
b. Two
c. Three
d. Four
1 points
Question 7
1. What are the two federal laws that Congress and President Franklin D. Roosevelt enacted
after the Great Crash of 1929 to bring confidence back to the securities markets?
a. Securities Act of 1933 and New Deal Act of 1931
Securities Exchange Act of 1934 and Public Utility Holding Company Act of
b.
1935
c. Texas Securities Act and Public Utility Holding Company Act of 1935
d. Securities Act of 1933 and Securities Exchange Act of 1934
1 points
Question 8
1. A patent gives the owner of the patent the exclusive right to exclude others from making,
using, or selling the invention covered by the patent. A patent does not give the owner of
the patent the right to make, use, or sell the invention herself.
True
False
1 points
Question 9
1. A corporation’s structure is hierarchical and consists of a board of directors, officers, and
shareholders. The directors and officers are the owners of the corporation, and the
shareholders are responsible for running the day-to-day operations of the corporation.
True
False
1 points
Question 10
1. A foreign corporation organized under the laws of a different state that is “doing
business” in another state must generally file a Foreign Corporation Certificate with the
Secretary of States’ office where it does business within how many days of doing
business in Massachusetts?
a. 1 day
b. 5 business days
c. 10 days
d. There is no time limit.
1 points
Question 11
1. A for-profit corporation must include each of the following provisions in its Articles of
Organization, EXCEPT:
a. Corporate name
b. Number of authorized shares of capital stock
c. Name and address of each incorporator
d. Purposes for which the corporation is formed
1 points
Question 12
1. A for-profit corporation is required to adopt bylaws that govern how a corporation is
managed, including the time and place of annual meetings, election procedures for
directors and officers, and provisions related to stock certificates and issuance of stock.
Such bylaws are required to be filed with the Secretary of State’s office in most
jurisdictions.
True
False
1 points
Question 13
1. Daddy Warbucks Bank wants to lend money to Annie, Inc. To ensure that its loan to
Annie, Inc., is secured in case Annie, Inc., can’t pay it back, Daddy Warbucks Bank plans
to take a security interest in Annie, Inc.’s, collateral. What form should Daddy Warbucks
Bank file to perfect its security interest in Annie, Inc.’s, collateral?
a. Business certificate
b. UCC-1: Financing Statement
c. Registration statement
d. UCC-11: Information Request
1 points
Question 14
1. Directors and officers have certain fiduciary responsibilities to the corporation for which
they serve. These are known as:
a. Corporate allegiance and unbiased judgment
b. Duty of loyalty and Duty of Care
c. Pledge of ethics and Compliance
d. All of the above
1 points
Question 15
1. Which of the following intellectual property rights are governed exclusively by federal
law?
a. Trademarks and service marks
b. Copyrights and patents
c. Trade secrets and confidential information
d. All of the above
1 points
Question 16
1. Each of the following business entities is characterized as providing limited liability to its
owners, EXCEPT:
a. General partnership
b. Limited liability partnership
c. Limited liability company
d. Corporation
1 points
Question 17
1. Before the passage of the Sarbanes-Oxley Act of 2002, corporate officers were not
required to certify as to the accuracy of a corporation’s financial reports.
True
False
1 points
Question 18
1. Members of limited liability companies are fully liable for all debts of the company if
they become involved in the management of the company.
True
False
1 points
Question 19
1. What is the name given to the document that governs the relationship among members in
a limited liability company?
a. Articles of organization
b. Partnership agreement
c. Partnership transaction
d. Operating agreement
1 points
Question 20
1. Bruce is employed by Toupee World, Inc., and, in the course of his employment, invents
a cure for baldness. Toupee World, Inc., without any assistance from Bruce, can file a
patent application with the USPTO and list the corporation as the inventor of Bruce’s
cure for baldness.
True
False
1 points
Question 21
1. All initial shareholders, the president, and the majority of the board of directors of a
professional corporation formed are required to be licensed in the profession for which
the professional corporation was formed.
True
False
1 points
Question 22
1. Under the federal securities laws, what is the term given to investors who invest money in
private corporations because they are considered to have substantial wealth, knowledge,
and ability to bear the risk of their investment if they lose money?
a. Accredited investors
b. Board of directors
c. Nonaccredited investors
d. Stockholders
1 points
Question 23
1. Which of the following are acceptable names for a for-profit business corporation in most
jurisdictions?
a. Tina’s Tulips, Inc.
b. Tina’s Tulips Company
c. Tina’s Tulips, Ltd.
d. Tina’s Tulips Corporation
e. All of the above
1 points
Question 24
1. John, Paul, and Ringo decide to form a domestic for-profit corporation . They decide to
call their corporation JPR Company, Inc., but decide to do business under the name “The
Bugs.” In addition to filing articles of organization with the secretary of state’s office
where they organize the corporation, what other legal document must they file to do
business?
a. Bylaws
b. List of shareholders
c. Business certificate (a/k/a “Doing Business As”)
d. Minutes of meetings
1 points
Question 25
1. Assuming that the appropriate regulatory bodies do not prohibit her from doing so, an
attorney who is licensed to practice law and is also a Certified Public Accountant may
form a professional corporation and render both legal and accounting professional
services.
True
False
1 points
Question 26
1. To elect to be treated as an S corporation for federal tax purposes, i.e., to permit that the
income of the S corporation is taxed to the shareholders of the corporation rather than to
the corporation itself, a corporation must file an election form with the Internal Revenue
Service.
True
1 points
Question 27
False
1. Bill and Hillary decide to form a partnership. Hillary will run the day-to-day operations
of the business. Bill will invest $1,000 in the business but does not want to run any of the
day-to-day operations of the business. Hillary will be the general partner, and Bill will be
the limited partner of the partnership. To be treated as a limited partnership and limit
Bill’s personal liability for any debts and obligations of the business to his $1,000
investment, Hillary and Bill must file a Certificate of Limited Partnership with the
Secretary of State’s office in the state in which they organize their limited partnership.
True
False
1 points
Question 28
1. Which of the following business entities is subject to double taxation, i.e., taxed both at
the entity level and at the ownership level?
a. C corporation
b. General partnership
c. Limited partnership
d. S corporation
1 points
Question 29
1. To sell shares of stock to public investors to raise working capital for the corporation, a
corporation must file a registration statement with the Securities and Exchange
Commission.
True
False
1 points
Question 30
1. Traditionally, par value is equal to the stated value of one share of stock. A Under current
laws in most jurisdictions corporation need not state a par value for its stock in its articles
of organization.
True
1 points
False
Question 31
1. In addition to a president and a secretary, what additional officer is a for-profit
corporation required to have?
a. Chairman of the board
b. Vice president
c. Treasurer
d. General manager
1 points
Question 32
1. Which of the following was NOT part of the Sarbanes-Oxley Act of 2002?
a. Closed certain loopholes of the disclosure laws
b. Enhanced the requirements for the articles of organization
Required publicly traded companies to provide greater and more timely
c.
information to the investing public
d. Established the Public Company Accounting Oversight Board
1 points
Question 33
1. What historical document gives authority to the federal government to have exclusive
jurisdiction over copyrights and patents?
a. Code of Federal Regulations
b. Declaration of Independence
c. The Bill of Rights
d. The U.S. Constitution
1 points
Question 34
1. After amendments to the UCC were adopted in July 2001, in general, to perfect a security
interest in a debtor’s collateral, a secured party is required to make a filing in the state
where the debtor is organized.
True
False
1 points
Question 35
1. In general, a domestic for-profit corporation is formed by an incorporator is required to
take ALL the following actions at her/his/its first meeting or by action by written consent
in lieu of a meeting, EXCEPT:
a. Elect initial directors
b. Elect a president, treasurer, and secretary
c. Adopt bylaws
d. Issue stock to shareholders
1 points
Question 36
1. If a business corporation wanted to extend personal unlimited liability to its shareholders,
it must include this statement in which document:
a. Articles of organization
b. Bylaws
c. Corporate charter
d. Minutes of the board of directors
1 points
Question 37
1. A sole proprietorship has unlimited personal liability for the debts of the business. What
type of entity could a sole proprietor form to limit his/her personal liability by law?
General Partnership
Limited Partnership
Limited Liability Partnership
Limited Liability Company
1 points
Question 38
1. Each of the following are examples of intellectual property, EXCEPT:
a. Trade secrets
b. Trademarks
c. Real property
d. Copyrights
1 points
Question 39
1. If Tina’s Tulips, Inc., has properly registered its trademark with the United States Patent
and Trademark Office (USPTO), which name and symbol should it use?
a. Tina’s Tulips, Inc.®
b. © 2001 Tina’s Tulips, Inc.
c. Tina’s Tulips, Inc.SM
d. Tina’s Tulips, Inc. TM
1 points
Question 40
1. To protect its trade secrets, a corporation will often make its employees sign a
nondisclosure agreement that prohibits its employees from disclosing any confidential
information.
True
False
1 points
Question 41
1. Shareholders are considered the owners in a for-profit business corporation and are
entitled to any distribution of the profits of the corporation “if and when” declared by the
corporation.
True
1 points
False
Question 42
1. A corporation has an authorized capital of 275,000 shares of common stock. The
corporation intends to issue 75,000 shares of common stock to investors to raise working
capital for the corporation. After selling all 75,000 shares to these investors, how many
shares will the corporation have reserved for issuance in the future?
a. 75,000
b. 150,000
c. 200,000
d. There is no limit to the number of shares.
1 points
Question 43
1. Janet finds her grandmother’s diary in the attic of her house. Janet wants to file a
copyright registration with the United States Copyright Office to secure a copyright to
her grandmother’s diary in Janet’s own name. Can the Copyright Office do this?
Yes
No
1 points
Question 44
1. The purpose of the Uniform Commercial Code (UCC) was to standardize state laws
related to certain business transactions.
True
False
1 points
Question 45
1. To form a sole proprietorship, a person must file a Certificate of Formation with the
Secretary of State’s office in the state where the business is operated.
True
1 points
False
Question 46
1. Why have most businesses chosen to incorporate in the State of Delaware?
The Delaware General Corporation Law is frequently updated and allows
corporations the flexibility to run their operations smoothly.
The Delaware Secretary of State’s Office enables efficient and orderly corporate
b.
filings.
c. The Delaware Court of Chancery has created an established body of law.
d. All of the above.
a.
1 points
Question 47
1. Which of the following requirements must a corporation meet to elect to be treated as an
S corporation for federal tax purposes?
a. It must have no more than 100 shareholders.
b. Its shareholders are individuals, estates, or certain trusts.
c. It has no nonresident alien shareholders.
d. It has only one class of stock.
e. All of the above.
1 points
Question 48
1. Under most jurisdictions, a corporation can limit the liability of directors for any breach
of their statutory duty to the corporation. To limit such liability, a corporation is required
to include a provision in which legal document that is filed with the Secretary of State’s
office?
a. Articles of organization
b. Bylaws
c. Minutes of meetings of shareholders
d. Minutes of meetings of directors
1 points
Question 49
1. Peter, Paul, and Mary decide to form a partnership. Each of them wants to take part in
the management and day-to-day operations of the company, and each of them also wants
to limit his or her personal liability for the debts and obligations of the partnership.
Which type of business entity should they form to achieve this goal?
a. General partnership
b. Limited partnership
c. Limited liability partnership
d. Massachusetts Business trust
1 points
Question 50
1. What is the name given to the document that governs the relationship among partners in a
partnership?
a. Articles of organization
b. Partnership agreement
c. Partnership transaction
d. Operating agreement
1 points
Purchase answer to see full
attachment
1. Each of the following business entities is characterized as having “flow-through” or
“pass-through” taxation in which the owners of the business are taxed for any profits they
receive, but not the business itself, EXCEPT:
a. General partnership
b. C corporation
c. S corporation
d. Limited partnership
1 points
Question 2
1. The term intellectual property means rights in tangible property, or real things that you
can touch and feel.
True
False
1 points
Question 3
1. A nonprofit corporation is not required to have any authorized shares of stock and does
not have any shareholders.
True
False
1 points
Question 4
1. If a corporation “does business” (i.e., leases office space, hires employees, sells goods,
etc.) in one state but chooses to establish itself under the law of a different state, it is
called a ________ corporation in the state in which it does business.
a. Domestic
b. Foreign
c. Interstate
d. National
1 points
Question 5
1. Bobby Flay is a world-famous chef. Bobby Flay has created his own brand of gourmet
cooking sauces called “Flaming Flay Grill Sauces.” To claim a trademark to this name,
Bobby Flay must file an application with both the federal and state governments seeking
to register the name.
True
False
1 points
Question 6
1. What is the minimum number of members one must have to form a limited liability
company in most jurisdictions?
a. One
b. Two
c. Three
d. Four
1 points
Question 7
1. What are the two federal laws that Congress and President Franklin D. Roosevelt enacted
after the Great Crash of 1929 to bring confidence back to the securities markets?
a. Securities Act of 1933 and New Deal Act of 1931
Securities Exchange Act of 1934 and Public Utility Holding Company Act of
b.
1935
c. Texas Securities Act and Public Utility Holding Company Act of 1935
d. Securities Act of 1933 and Securities Exchange Act of 1934
1 points
Question 8
1. A patent gives the owner of the patent the exclusive right to exclude others from making,
using, or selling the invention covered by the patent. A patent does not give the owner of
the patent the right to make, use, or sell the invention herself.
True
False
1 points
Question 9
1. A corporation’s structure is hierarchical and consists of a board of directors, officers, and
shareholders. The directors and officers are the owners of the corporation, and the
shareholders are responsible for running the day-to-day operations of the corporation.
True
False
1 points
Question 10
1. A foreign corporation organized under the laws of a different state that is “doing
business” in another state must generally file a Foreign Corporation Certificate with the
Secretary of States’ office where it does business within how many days of doing
business in Massachusetts?
a. 1 day
b. 5 business days
c. 10 days
d. There is no time limit.
1 points
Question 11
1. A for-profit corporation must include each of the following provisions in its Articles of
Organization, EXCEPT:
a. Corporate name
b. Number of authorized shares of capital stock
c. Name and address of each incorporator
d. Purposes for which the corporation is formed
1 points
Question 12
1. A for-profit corporation is required to adopt bylaws that govern how a corporation is
managed, including the time and place of annual meetings, election procedures for
directors and officers, and provisions related to stock certificates and issuance of stock.
Such bylaws are required to be filed with the Secretary of State’s office in most
jurisdictions.
True
False
1 points
Question 13
1. Daddy Warbucks Bank wants to lend money to Annie, Inc. To ensure that its loan to
Annie, Inc., is secured in case Annie, Inc., can’t pay it back, Daddy Warbucks Bank plans
to take a security interest in Annie, Inc.’s, collateral. What form should Daddy Warbucks
Bank file to perfect its security interest in Annie, Inc.’s, collateral?
a. Business certificate
b. UCC-1: Financing Statement
c. Registration statement
d. UCC-11: Information Request
1 points
Question 14
1. Directors and officers have certain fiduciary responsibilities to the corporation for which
they serve. These are known as:
a. Corporate allegiance and unbiased judgment
b. Duty of loyalty and Duty of Care
c. Pledge of ethics and Compliance
d. All of the above
1 points
Question 15
1. Which of the following intellectual property rights are governed exclusively by federal
law?
a. Trademarks and service marks
b. Copyrights and patents
c. Trade secrets and confidential information
d. All of the above
1 points
Question 16
1. Each of the following business entities is characterized as providing limited liability to its
owners, EXCEPT:
a. General partnership
b. Limited liability partnership
c. Limited liability company
d. Corporation
1 points
Question 17
1. Before the passage of the Sarbanes-Oxley Act of 2002, corporate officers were not
required to certify as to the accuracy of a corporation’s financial reports.
True
False
1 points
Question 18
1. Members of limited liability companies are fully liable for all debts of the company if
they become involved in the management of the company.
True
False
1 points
Question 19
1. What is the name given to the document that governs the relationship among members in
a limited liability company?
a. Articles of organization
b. Partnership agreement
c. Partnership transaction
d. Operating agreement
1 points
Question 20
1. Bruce is employed by Toupee World, Inc., and, in the course of his employment, invents
a cure for baldness. Toupee World, Inc., without any assistance from Bruce, can file a
patent application with the USPTO and list the corporation as the inventor of Bruce’s
cure for baldness.
True
False
1 points
Question 21
1. All initial shareholders, the president, and the majority of the board of directors of a
professional corporation formed are required to be licensed in the profession for which
the professional corporation was formed.
True
False
1 points
Question 22
1. Under the federal securities laws, what is the term given to investors who invest money in
private corporations because they are considered to have substantial wealth, knowledge,
and ability to bear the risk of their investment if they lose money?
a. Accredited investors
b. Board of directors
c. Nonaccredited investors
d. Stockholders
1 points
Question 23
1. Which of the following are acceptable names for a for-profit business corporation in most
jurisdictions?
a. Tina’s Tulips, Inc.
b. Tina’s Tulips Company
c. Tina’s Tulips, Ltd.
d. Tina’s Tulips Corporation
e. All of the above
1 points
Question 24
1. John, Paul, and Ringo decide to form a domestic for-profit corporation . They decide to
call their corporation JPR Company, Inc., but decide to do business under the name “The
Bugs.” In addition to filing articles of organization with the secretary of state’s office
where they organize the corporation, what other legal document must they file to do
business?
a. Bylaws
b. List of shareholders
c. Business certificate (a/k/a “Doing Business As”)
d. Minutes of meetings
1 points
Question 25
1. Assuming that the appropriate regulatory bodies do not prohibit her from doing so, an
attorney who is licensed to practice law and is also a Certified Public Accountant may
form a professional corporation and render both legal and accounting professional
services.
True
False
1 points
Question 26
1. To elect to be treated as an S corporation for federal tax purposes, i.e., to permit that the
income of the S corporation is taxed to the shareholders of the corporation rather than to
the corporation itself, a corporation must file an election form with the Internal Revenue
Service.
True
1 points
Question 27
False
1. Bill and Hillary decide to form a partnership. Hillary will run the day-to-day operations
of the business. Bill will invest $1,000 in the business but does not want to run any of the
day-to-day operations of the business. Hillary will be the general partner, and Bill will be
the limited partner of the partnership. To be treated as a limited partnership and limit
Bill’s personal liability for any debts and obligations of the business to his $1,000
investment, Hillary and Bill must file a Certificate of Limited Partnership with the
Secretary of State’s office in the state in which they organize their limited partnership.
True
False
1 points
Question 28
1. Which of the following business entities is subject to double taxation, i.e., taxed both at
the entity level and at the ownership level?
a. C corporation
b. General partnership
c. Limited partnership
d. S corporation
1 points
Question 29
1. To sell shares of stock to public investors to raise working capital for the corporation, a
corporation must file a registration statement with the Securities and Exchange
Commission.
True
False
1 points
Question 30
1. Traditionally, par value is equal to the stated value of one share of stock. A Under current
laws in most jurisdictions corporation need not state a par value for its stock in its articles
of organization.
True
1 points
False
Question 31
1. In addition to a president and a secretary, what additional officer is a for-profit
corporation required to have?
a. Chairman of the board
b. Vice president
c. Treasurer
d. General manager
1 points
Question 32
1. Which of the following was NOT part of the Sarbanes-Oxley Act of 2002?
a. Closed certain loopholes of the disclosure laws
b. Enhanced the requirements for the articles of organization
Required publicly traded companies to provide greater and more timely
c.
information to the investing public
d. Established the Public Company Accounting Oversight Board
1 points
Question 33
1. What historical document gives authority to the federal government to have exclusive
jurisdiction over copyrights and patents?
a. Code of Federal Regulations
b. Declaration of Independence
c. The Bill of Rights
d. The U.S. Constitution
1 points
Question 34
1. After amendments to the UCC were adopted in July 2001, in general, to perfect a security
interest in a debtor’s collateral, a secured party is required to make a filing in the state
where the debtor is organized.
True
False
1 points
Question 35
1. In general, a domestic for-profit corporation is formed by an incorporator is required to
take ALL the following actions at her/his/its first meeting or by action by written consent
in lieu of a meeting, EXCEPT:
a. Elect initial directors
b. Elect a president, treasurer, and secretary
c. Adopt bylaws
d. Issue stock to shareholders
1 points
Question 36
1. If a business corporation wanted to extend personal unlimited liability to its shareholders,
it must include this statement in which document:
a. Articles of organization
b. Bylaws
c. Corporate charter
d. Minutes of the board of directors
1 points
Question 37
1. A sole proprietorship has unlimited personal liability for the debts of the business. What
type of entity could a sole proprietor form to limit his/her personal liability by law?
General Partnership
Limited Partnership
Limited Liability Partnership
Limited Liability Company
1 points
Question 38
1. Each of the following are examples of intellectual property, EXCEPT:
a. Trade secrets
b. Trademarks
c. Real property
d. Copyrights
1 points
Question 39
1. If Tina’s Tulips, Inc., has properly registered its trademark with the United States Patent
and Trademark Office (USPTO), which name and symbol should it use?
a. Tina’s Tulips, Inc.®
b. © 2001 Tina’s Tulips, Inc.
c. Tina’s Tulips, Inc.SM
d. Tina’s Tulips, Inc. TM
1 points
Question 40
1. To protect its trade secrets, a corporation will often make its employees sign a
nondisclosure agreement that prohibits its employees from disclosing any confidential
information.
True
False
1 points
Question 41
1. Shareholders are considered the owners in a for-profit business corporation and are
entitled to any distribution of the profits of the corporation “if and when” declared by the
corporation.
True
1 points
False
Question 42
1. A corporation has an authorized capital of 275,000 shares of common stock. The
corporation intends to issue 75,000 shares of common stock to investors to raise working
capital for the corporation. After selling all 75,000 shares to these investors, how many
shares will the corporation have reserved for issuance in the future?
a. 75,000
b. 150,000
c. 200,000
d. There is no limit to the number of shares.
1 points
Question 43
1. Janet finds her grandmother’s diary in the attic of her house. Janet wants to file a
copyright registration with the United States Copyright Office to secure a copyright to
her grandmother’s diary in Janet’s own name. Can the Copyright Office do this?
Yes
No
1 points
Question 44
1. The purpose of the Uniform Commercial Code (UCC) was to standardize state laws
related to certain business transactions.
True
False
1 points
Question 45
1. To form a sole proprietorship, a person must file a Certificate of Formation with the
Secretary of State’s office in the state where the business is operated.
True
1 points
False
Question 46
1. Why have most businesses chosen to incorporate in the State of Delaware?
The Delaware General Corporation Law is frequently updated and allows
corporations the flexibility to run their operations smoothly.
The Delaware Secretary of State’s Office enables efficient and orderly corporate
b.
filings.
c. The Delaware Court of Chancery has created an established body of law.
d. All of the above.
a.
1 points
Question 47
1. Which of the following requirements must a corporation meet to elect to be treated as an
S corporation for federal tax purposes?
a. It must have no more than 100 shareholders.
b. Its shareholders are individuals, estates, or certain trusts.
c. It has no nonresident alien shareholders.
d. It has only one class of stock.
e. All of the above.
1 points
Question 48
1. Under most jurisdictions, a corporation can limit the liability of directors for any breach
of their statutory duty to the corporation. To limit such liability, a corporation is required
to include a provision in which legal document that is filed with the Secretary of State’s
office?
a. Articles of organization
b. Bylaws
c. Minutes of meetings of shareholders
d. Minutes of meetings of directors
1 points
Question 49
1. Peter, Paul, and Mary decide to form a partnership. Each of them wants to take part in
the management and day-to-day operations of the company, and each of them also wants
to limit his or her personal liability for the debts and obligations of the partnership.
Which type of business entity should they form to achieve this goal?
a. General partnership
b. Limited partnership
c. Limited liability partnership
d. Massachusetts Business trust
1 points
Question 50
1. What is the name given to the document that governs the relationship among partners in a
partnership?
a. Articles of organization
b. Partnership agreement
c. Partnership transaction
d. Operating agreement
1 points
Purchase answer to see full
attachment
