R-8 Flashcards
1
Q
How many general partners needed for limited liability partnership?
A
Atleast one.
2
Q
What is FICA?
A
benefits for workers and family in case of death, disability or retirement.
3
Q
What is FUTA?
A
It is state run system of insurance to provide income for job lost. See R-8 pg 49
4
Q
What is ERISA?
A
It is federal pension laws to protect rules for management of retirement plans.
5
Q
What is required reporting for amount of deposit?
A
10,000 dollars
6
Q
How long is records kept?
A
between 3000 to 10,000 dollars for 5 years.
7
Q
What is Sherman Act?
A
Balance anti-competitive and competitive behavior See R-8 pg 65
8
Q
What is Clayton Act?
A
Aimed at anti-competitive behavior not covered by Sherman act.
9
Q
What is Article 7 of UCC?
A
Warehouse receipts
Bills of lading
