Ncs Nw GI - Corp Action Plan Follow-up

5 Questions | Attempts: 75
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Plan Quizzes & Trivia

This is the follow-up test for the NW GI-Corp ACTION Plan for Q1.

Questions and Answers
  • 1. 

    Does a joint venture eliminate the previous business entities?

    • A.

      Yes

    • B.

      No

    Correct Answer
    B. No
  • 2. 

    If the vesting is a general partnership - only the partnership name needs to be ran.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
  • 3. 

    What items need to be reflected against a general partner of a partnership?

    • A.

      Tax Liens

    • B.

      Support Judgments

    • C.

      Probates

    • D.

      Bankruptcies

    • E.

      Garbage Liens

    Correct Answer(s)
    A. Tax Liens
    C. Probates
    D. Bankruptcies
  • 4. 

    If the vesting is: John Smith and Jane Smith, DBA J&J Market, GI should be ran as?  (Mark all that apply)

    • A.

      Smith, John

    • B.

      Smith, Jane

    • C.

      DBA J&J

    • D.

      Johnsmith Janesmith

    • E.

      J&J Market

    Correct Answer(s)
    A. Smith, John
    B. Smith, Jane
    E. J&J Market
  • 5. 

    If Jack and Jill acquire a property in 2005 and in 2008 they deed into the Jack & Jill, LLC - GI needs to be pulled only on the LLC.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False

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  • Current Version
  • Mar 19, 2022
    Quiz Edited by
    ProProfs Editorial Team
  • Mar 10, 2010
    Quiz Created by
    Ncsqclead

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