Question

Eam-BA 230-Section 2 yome corporations, only the shareholders are taxed; in others, both the corporation as an entity is tased and the rcholders are taxed as well. a True bFalse dicate the anwer choice thatr best completes the statement or answers the question The Star General Partnership had assets worth $34,000 after liquidation. Frank, Gene,, and Hank, equal partners, each contributed 53,000 into the capital pool at the inception of the business. Gene later loaned the business $5,000. They owe $23,000 to creditors. What will Gene get in distribution, assuming there is no agreement on the distribution of profhtsr a $5,000 b. $7,000 S11,000 d. $8,000 9. The UPA grants each partner the right to an account whenever a. his partners wrongfully exclude him from the partnership business. (ba partner makes a profit in violation of his fiduciary duty. c. circumstances render it just and reasonable. d. All of these are reasons a parter may demand an account. 10. Kline, Finkel, and Martinez have been partners for years, but a court is now dividing the assets and liabilities of the partnership separate a. marshaling assets b. liquidation. c. dissolution of the partnership. dwinding up. assets and liabilities of the individual partners. This process is called: 11. A shareholder's obligation to repay an illegally declared dividend depends on: a. the solvency or insolvency of the corporation and, in some instances, special statutory provisions. b. the shareholder's knowledge of the facts c. the shareholder's good or bad faith in accepting the dividend. dAll of these. 12. A postincorporation subscription is: (like a preincorporation subscription in that the subscriber may withdraw the offer to enter into the subscripti any time before the corporation accepts it. b. treated as a contract between the subscriber and the corporation. c. defined under the RMBCA as a contract between all subscribers. d. not recognized under the RMBCA. 13. Assuming there are no provisions in the corporation's articles of incorporation or bylaws regarding quorum requirements, if there are 13 total directors of General Gonzo Corporation and the minimum number of directors present to transact business, how many votes normally would be necessary for those present to act as a board? a. 6 b. 7 Copyright Cengage Leaming. Powered by Cognero

Answer 1

Since all the answers are given in the question and there is no mention about what is required.

I hereby answer the 13 th question the answer is b.7

The reason is to recruite BOD of a company we need at least majority voting rights.