Spring Semester $24\text{'}-$ Requires Respondus LockDown Browser

The essential elements of a partnership do not include

a sharing of profits and losses.

a joint ownership of the business.

an equal right in the management of the business.

an intent to act in good faith.

Question $50(1$ point$)$

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Schmitz wants to form a new firm $-$ eBeats $-$ to market a new app. Fees are required to form all of the following business organizations except

$$ a sole proprietorship.

a corporation.

a limited partnership.

a limited liability company.

uestion $51(1$ point$)$

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Deb is a director and Erv is an officer of Fast Food Inc. Liability for the firm's intentional disregard of consumer$-$protection statutes may extend to

Deb only.

Erv only.

Deb and Erv.

none of the choices.