• Card 51 / 54: Which of these statements about management and control of business organizations is not correct? (Assume that any default provisions of the RCW apply.)
    A) A limited partnership is managed by the general partner(s), or those having a "general partnership" role.
    B) A for-profit ("C") corporation is managed by its shareholders.
    C) A sole proprietorship is managed by the sole proprietor.
    D) A limited liability company is managed by its members, or by managers appointed by the members.

    Answer:
    B) A for-profit ("C") corporation is managed by its shareholders.

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Business Law MCQ Exam#3 BUS201

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Attribution:  Maureen Shellooe Miller. Open Course Library: BUS&201 Business Law. The Open Course Library. Washington State Board for Community & Technical Colleges, Jul. 2014. http://www.oercommons.org/courses/business-law-bus-201
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