Match Each Statement with the Correct Term Below

question 54

Multiple Choice

Match each statement with the correct term below.
-duty of care

• A)An association of two or more persons to carry on as co-owners a business for profit.
• B)An organization has a legal existence separate from its members.
• C)Member of a limited partnership with liability for its debts only to the extent of her capital contributions and with no right of control of the business.
• D)Total money and property contributed by the partners for permanent use by the partnership.
• E)Duty of utmost loyalty, fairness, and good faith owed by partners to each other and to the partnership.
• F)Duty owed by partners to manage the partnership affairs without gross negligence, reckless conduct, intentional misconduct, or knowing violation of the law.
• G)Right one has to choose his partners.
• H)Any partner's ceasing to be associated in the carrying on of the business.
• I)Judicial lien that may be obtained against a partner's transferable interest in a partnership.
• J)Completing unfinished business, collecting debts, and distributing assets; also called liquidation.
• K)Sum of all partnership's assets, including all property acquired by a partnership.
• L)A general partnership that, by making a statutorily required filing, limits liability of its partners.
• M)A partnership formed by two or more persons under the laws of a state and having one or more general partners and one or more limited partners.
• N)An unincorporated business organization that provides limited liability to all of its owners and permits all of its members to participate in management.
• O)A group of individuals not having a legal existence separate from that of its members.
• P)Under the UPA, the change in relation of partners caused by any partner's ceasing to be associated in the carrying on of the business; under the RUPA, situations requiring a partnership to wind up and terminate.

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Definitions:

Conflicts of Interest

Situations in which a person's personal interests could potentially influence or interfere with their professional judgement and responsibilities.

Home Visits

Visits made by professionals, such as healthcare workers or social services, to individuals' homes to provide services or support.

Community

A group of people living in the same place or having a particular characteristic in common, often sharing a sense of belonging and mutual support.

Sexual Feelings

Emotional and physiological responses related to sexual attraction or activities.