The most significant distinction between a general partner and a joint venturer is that
A. A joint venturer is personally liable for debts of the entity.
B. A joint venturer has less apparent authority.
C. Only a partner has a right to an accounting.
D. Neither is liable for taxes on entity profits.
Answer: B. A joint venturer has less apparent authority.
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Sources of life insurance dividends include which of the following? I. Excess interest earned on the assets necessary to maintain legal reserves II. Favorable mortality experience
A) I only B) II only C) both I and II D) neither I nor II
The dues rebate policy, as interpreted by the Supreme Court in Beck was
a. restricted to political campaign expenditures. b. not addressed. c. expanded to include any union expenditure not related strictly to collective bargaining. d. ruled a union unfair labor practice and banned as a legal practice.