Carl Starts Assumes Financial Risk Dataworks New Web Marketing Enterprise Carl Dataworks M Q28247927

Carl starts up, and assumes the financial risk of, DataWorks, anew Web marketing enterprise. Carl and DataWorks must meet legalrequirements relating to

a. occupational licensing
b. business name and state tax registration
c. intellectual property laws
d. all of the choices

Nina, the owner of Organic Farm, a sole proprietorship, wants toobtain additional capital to operate. This can be accomplishedby

a. a Small Business Administration Loan
b. a bank loan
c. any of the choices
d. a state grant

Cliff is a member of Dental Clinic, LLC. Cliff can participatein the firm’s management to

a. the extent that he assumes liability for the firm’sdebts
b. the extent of his investment in the firm
c. no extent
d. any extent

Ann is a corporate officer for Blooming Flora, Inc. As acorporate officer, Ann is

a. the head of the board of directors
b. the employer of the firm
c. in charge of approving the shareholders
d. an employee of the firm

Allen wants Wilderness Outfitters to join with him to form anddo business as Canyon River Rafting Corporation. A corporation canbe owned by

a. natural persons only
b. other businesses only
c. other businesses or natural persons.
d. none of the choices

Security Insurance, Inc. has a board of five directors.Security’s bylaws do not state any quorum requirements. In moststates, a quorum for Security’s board meetings would be

a. 4
b. 5
c. 3
d. 1