BSHS 355 Week 4 Team Assignment (Social Security Act) 1

 This archive file comprises BSHS 355 Week 4 Team Assignment (Social Security Act) 1

Deadline: ( ), General Questions - General General Questions
 Question 1

 1.  Which of the following  best  describes how a corporation, which has not made any special tax elections, and its shareholders, are taxed?











 The corporation is not taxed, but the shareholders are taxed on their dividends.











 The corporation is taxed, but the shareholders are not taxed on their dividends.











 The corporation is taxed, and the shareholders are taxed on their dividends.











 Neither the corporation nor its shareholders are taxed.





 0.5 points

 Question 2

 1.  Which of the following is a reason to form a limited liability company rather than an S corporation?











 There is no limit on the number of owners of a limited liability company whereas the number of shareholders of an S corporation is limited.











 All owners of a limited liability company have limited liability, but not all owners of an S corporation have limited liability.











 A limited liability company can be formed without formalities such as filing papers with the state whereas an S corporation requires papers to be filed with the state.











 A limited liability company acts as a flow-through entity for income tax purposes, but an S corporation does not.





 0.5 points

 Question 3

 1.  Under Article 2 of the UCC dealing with the sale of goods, a contract is usually enforceable even if which of the following terms is omitted:











 Price.











 Quantity.











 Price or quantity.











 Neither price nor quantity may be omitted.





 0.5 points

 Question 4

 1.  A promoter's preincorporation contract:











 binds only the promoter unless adopted by the corporation.











 binds both the promoter and the corporation.











 binds only the corporation.











 binds neither the promoter nor the corporation if rejected by the corporation.





 0.5 points

 Question 5

 1.  Which of the following is NOT an Equitable remedy under the common law:









 a.



 Injunction









 b.



 Money Damages









 c.



 Rescission









 d.



 Specific Performance





 0.5 points

 Question 6

 1.  The procedure which uses a neutral third party to assist disputing parties reach a resolution is:











 Conciliation.











 Mediation.











 Fact finding.











 Arbitration.





 0.5 points

 Question 7

 1.  Which of the following is a  true  statement?









 A.



 Fraud by active concealment occurs when a party to a contract fails to disclose all of the known facts about the subject matter of the contract.









 B.



 To be actionable for fraud, a misrepresentation must pertain to a future opinion.









 C.



 The threat to b

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