Why Mark and Andrew were not involved in the scheme?

(IED)
ANS: They did not grant their fathers, they were not involved.

Why did people take money out?

ANS: the economy was bad.

Bernie had three financial companies, Which one was on the verge of collapse?
ANS: Investment advisory firm.

What is a Ponzi scheme?

ANS: It is an illegal type of pyramid in which money from new investors is used to pay to
previous investors.

How could Madoff have maintained his fraud for so long?

ANS: Investors said they were always able to withdraw money out on short notice.

Why did the SEC fail to detect the Ponzi scheme of Bernie Madoff and what were the
consequences?
ANS: They gave… NASDAQ, The SEC annually receives 10 000 complaints, The
SEC had difficulty…

Why did sophisticated investors trust Bernie Madoff with their funds, and why didn’t they
perform appropriate due diligence?
ANS: Bernie claimed that he invested the money in a complicated three-part… bleu-chip
stocks.

What were the benefits of trading OTC options for Madoff?

ANS: OTC options were less regulated and offer greater secrecy.

Why would Madoff “subsidize” his investors in down months?

ANS: so they can show a low instability of returns.

Should Mark Madoff have granted his father request for a one week delay before notifying
dawle authorities about his crime?
ANS: He shouldn’t , because it would take him to the jail.

Jomal twal= all the above

Will investors who profited from Madoff fund have to return their proceeds?
ANS: Some institutions that are sophisticated… sure the money they invest is safe.

What are the importance of values in business concern

ANS: Ethics as a strategy, the value of a good reputation, Leadership roles in ethical choices.

What are the action that can be done in order to create an ethical culture in business?
ANS: Application of rules, laws, and punishments against unethical corporate behavior.
The front page of newspaper test is considered?
ANS: Resolution of business ethics dilemna

In Lebanon, the Copartner is:

A company without legal personality
A special type of company of funds that enjoys certain advantages
A special type of Limited Partnership
None of the above

What is the minimum required capital for registering Limited Liability Company in
Lebanon?
A. 5,000, 000LBP
B. 10,000,000 LBP
C 30,000,000 LBI
D. None of the above

When the object of the Limited Partnership by shares is civil, it is considered:

A commercial company
B. A civil company.
C. Limited Liability Company
D. All of the above

Partners in an unlimited partnership have

A. A limited Lability in proportion with their contributions
B. An unlimited liability for the debts of the company
C. An unlimited liability for the debts of the company, they participated in the management
D. None of the above

The minimum and maximum number of partner in a limited company, in normal cases
A. minimum 3 and maximum 12
B. Minimum 2 and maximum 20
C. Minimum 3 and maximum 20
None of the above

The general partnership in the USA is a legal structure

A. With no personal responsibility for the partners.

B. With a limited responsibility for the partners.
C. With an unlimited responsibility for the partners.

The minimum capital of Lebanese Joint Stock Company

A. 5 million LBP
B. 20 million LBP
C, 30 million LBP
D. None of the above

In the US, Partnership be dissolved by:

A. Agreement
B. Operation of law;
C. Court order
D. All of the above.
The sale's contract of a Business Concern
A. Can be oral or written
B. Should be written
C. A B
D. None of above

In Lebanon, general partner in Limited Partnership have liabilty

A. On the full amount of partnership
B. for the amount of their contributions
C. For the negligent the other partners
D. None of the above

will investors who profited from Madera fund have to return their proceed
(profits)? (CA)
A. No.
B. Only individual investors.
C. All institutions (profit organizations and non-profit organizational).
D. Some institutions that are sophisticated, theoretically, and they can fees based on how
they do precisely this kind of screening to make sure the money they invest is safe.

What is/are the importance of value(s) in business concern? (CA)

A. Ethics as a strategy
B. The value of a good reputation
C. Leadership's role in ethical choices.
D All of the above.

What are the action that can be done in order to create an ethical culture in
business: (CA)
A. Creating policies that reward economic growth.
B. Application of rules, laws, and punishments against unethical corporate behavior.
c. Creating policies that increase financial profit.
D. A and B.

The Front-Page-of-the-Newspaper Test is considered: (IEDY

A. Resolution of business ethical dilemma.
B. Category of ethical dilemma.
C. Source of ethical dilemma.
D. None of the above.

Blanchard and Peal provided a theory in order to resolve ethical dilemmas. This
A. A set of questions which includes: Is it legal, is it balanced, and how does it make me feel
B. A model that consists of the following compliance, contribution, and consequences
C. The acceptance of a decision to be discussed between friends.

What is the restriction that is imposed upon transferring apart from one partner to
a third party in an Unlimited Partnership in Lebanon?
A No restriction
B. The approval of all partners
C. The approval of the partner who owns the majority of the capital.
D. The approval of the majority.

The minimum and maximum number of partners in a Lebanese VA limited

Partnership in normal cases is
A Minimum 3 and maximum 12.
B. Minimum 2 and maximum 20.
C Minimum 3 and maximum 20
D. None of the above

A Limited Liability Company must be transformed into Partnership when

A. The number of partners goes below three
B. The capital increase above 6 million Lebanese Pounds
C. The number of partners goes above 30.
D. All of the above

in Lebanon, the Business Concern

A. Is a legal entity having a legal personality
B. Car own immovable property in its name.
c. Neither of the above.

In the US and in Lebanon, limited partners in a limited Partnership have.

A The right to participate to the management of the company
B. Full liability for the management of the business.
C. A and B.
D. None of the above

In the US, all Corporations are submitted to the double taxation system except
A. The foreign Corporations.
B. The professional Corporations
C. The S Corporations
D. None of the above.

Which one of the following Lebanese companies is not commercial by form

A. Limited Partnership by shares.
B. Limited Liability Company.
C. Unlimited Partnership
D. None of the above.

In Lebanon, partners in the Copartnery deal with third party

A. In the name of the company.
B. In their own name.
C. A and B.
D. None of the above.

In Lebanon, the statute of the Joint Stock Company should be registered:

A. Before the single judge.
B. Before the municipality.
C. Before a notary public.
D. None of the above.

What is the restriction that is imposed upon transferring of shares in a Joint Stock
Company in Lebanon?
A. No restriction
B. The approval of all the shareholders.
C. The approval of shareholders owning the majority of the capital.
D. None of the above

The dissolution of a Lebanese Joint Stock Company requires a:

A. Constituent meeting.
B. Regular (ordinary) meeting
C. Special meeting
D. All of the above.

The minimum capital of a Lebanese Joint Stock Company is

A. 5 million LBP.
B. 20 million LBP.
C. 30 million LBP,
D. None of the above.

In the US, Partnership can be dissolved by:

A. Agreement
B. Operation of law.
C. Court order,
D. All of the above

The sale's contract of a Business Concern:

A. Can be oral or written,
B. Should be written
C. A and B
D. None of the above

In Lebanon, general partners in Limited Partnership luye Liability

A. On the full amount of partnership debts.
B. Only for the amount of their contributions,
C. For the negligent acts of the other partners.
D. None of the above.

In the US, partners in a Partnership are:

A. Separately liable toward the creditors of the Partnership
B. Jointly and severally liable for the obligations of the Partnership
C. A and B.
D. None of the above.

In Lebanon, a Copatnery consists of at least:

A. One individual operating a business.
B. Two individuals operating a business.
C. Three individuals operating a business.
D. None of the above.

In the US and in Lebanon, a Limited Partnerships is formed of

A. General partners only
R. Limited partners only
C. Two categories of partners (general/limited),
D. None of the above.

What kind of decisions can be taken in an extraordinary meeting in a Lebanon

Stock Company?
A. Distributing dividends
B. Electing board members
c. Amending and modifying the statute of the company
d. A and B

Involuntary Dissolution of a USA Corporation:

A. Begins with a resolution by Board of Directors
B. is forced by the state attorney's office because fraud or failure to follow state laws
C. Put before Shareholders at a special meeting called for that purpose
D. Shareholders vote on the issue of dissolution

Limited Liability Company in USA:

A. Has double taxation
B. Has unlimited duration
c. Flexibility in management for all owners
D. It's not dissolved upon death of a member

A form of financing used most frequently by USA Corporations:

A. Debt and Equity financing
b. Banking loans
c. Where interest is not fixed
D. Where capital cannot be raised

The sale of a Business concern in Lebanon shall be registered at:

A. General Commercial Register
B. Special Commercial Register
C. Both of them
D. None of the above

In case of dissolution of a US partnership, priority is to:

A. Return of capital contribution
B. Money owned to partners
C. Distribution of profit
D. Creditors

In the unlimited partnership the minimum number of partners is:

A. 2
B. 3
C. 4
D. 5

The general partner in a limited partnership:

A- Is like the limited partner
B- Have the same responsibilities as the limited partner
C- Have less responsibilities then the limited partner
d. None of the above

In the US partnerships are regulated by:

A-Labor law
B- Uniform partnership act
C- International law
D- All of the above

A dissolution of a partnership in the US:

A- Can be based on the agreement of the partners
B- Is always based on the agreement of the partner
C- Can never be based on the agreement of the partners
D- None of the above

An LLC in the US can be dissolved upon:

A- Withdrawal of a partner
B- Death of a partner
C- Expulsion of a partner
D- All of the above

LLP can be dissolved for the same reasons as a:

A- Limited partnership
B- Off shore
C- Holding
D- None of the above

In the U.S.A. partnership can be dissolved by:

A- Agreement
B- Operation of law
C- Court order
D- All of the above

The sole proprietorship has:

A- No personal liability
B- Limited organizational liability
C- Unlimited organizational liability
d. Unlimited personal liability

All Lebanese companies have corporate personality except:

A- Joint stock company
B- Limited liability company
c. co-partnery
D- None of the above

Joint Stock Company is:

A. An association of persons contributed by 3 or more persons
B. A corporation whose members are called Shareholders
C. An association of funds, whose members contribute in cash, kind of services for purpose
of making profit
d. B&C

Founder of Joint Stock company shall start formation procedures by registering status
directly before:
A. The special commercial register
B. A Notary Public
c. The General Commercial Register
E. None of the above

What is the legal form of a company in Lebanon with abbreviation of S.A.R.L?

A, Joint Stock company
B. Limited Liability company
C. Limited Partnership by shares
D. Unlimited Partnership

S. corporation in US has:
A. Double taxation and limited liability
B. Is taxed only on income of each member and has limited liability
C. Has unlimited liability but taxed only on income
D, None of the above

The shareholders have the right to:

Make pooling agreements

The S corporation is:

Not submitted to a double taxation

In the US, a corporation is for a maximum period of:

Unlimited duration
Upon dissolution of a limited partnership, which of the following should be paid first:
Creditors

Joint Stock Company in Lebanon is dissolved upon:

A. Losses of the capital
B. By resolution taken by shareholders in a special meeting, quorum
c. By termination of the project
d. All of the above

Hiring Business Managership contract:

A. When owner of Business concer leaves completely the management to the less manager
who pays annual rent and percent of profit
B. Death of the owner will terminate the contract
c. The less manager can change the nature of the business
D. All of the above

A major factor that should be considered when determining in which state to incorporate
a USA Corporation:
A. Status of states corporation laws
B. State tax laws
C. The incentives that states offer to attract business
D. All the of the above

How does Sole proprietorship get funded:

A. By issuing shares to public
B. By issuing bonds to public
c. Obtaining personal bank loans
d. All of the above

What is the restriction that is imposed upon transferring a part from one partner to
another in an unlimited partnership in Lebanon?
a. No restriction
B. The approval of all partners
C. The approval of the partner who owns the majority of the capital
D. The approval of the majority

The Sole Proprietorship has:

A. No personal liability
B. Limited organizational liability
C. Unlimited organizational liability
d. Unlimited personal liability

business concern in Lebanon:

A. business enterprise having legal personality
b. business enterprise not having legal personality
C. Should be registered in the General Commercial Register
D. It comprise of corporal elements

Conduct that forms partnerships by implication in USA is:

A. Owning property together
B. Profits paid to repay debts
C. Profits paid as wages or rent
D. Courts infer that a partnership exists even if persons involved say they are not partners and
have no written agreement

USA General Partnership:

A. Has double taxation
B. Taxed only as a Partnership
c. Taxed only on income of each partner
D. Neither the Partnership nor partners pay taxes

Dissolution by Operation of Law in a USA General Partnership means:

A. When a partner dies
B. When a partner gets bankrupt
C. Once the time of agreement expires
c. a + b
d. b + c

Partners in a US General Partnership are:

A. Jointly and severally liable for the obligations resulting from the partnership's activities
B. Have limited liability based on their contributions
C. Jointly and severally liable for the obligations resulting from the partnership's activities
only if they participate in the management
d. None of the above

In USA Limited Partnership:

A. A Limited Partner can be involved in the management of the business
B. A Limited Partner can use his name in the name of the Partnership
C. The general partner has Unlimited liability and he is involved in the management
D|Only the general partner has the right to vote on amendments

Lili, John and Tracy formed a Limited Partnership in USA. Lili and John were general
partners, while Tracy a limited partner. Upon withdrawal of Lili and John, Limited
Partnership is:
A. Transformed to a Corporation
B. Limited Partnership continues with Tracy only
c. It is dissolved
D. None of the above

The RULPA provides a list of activities that Limited Partners can engage in without
losing their limited liability status in a Limited Partnership. Among these activities is:
A. Managing the partnership when general partners are absent
B. Being employed by general partnership as an employee, contractor or accountant
c. Making transactions with other companies
D. All of the above

in a USA Corporations, Incorporators are:

A. Three incorporators
B. One incorporator
Are personally liable
D. None of the above

A method of grouping shareholder votes which is a contract among shareholders to vote

their shares a certain way or a certain director:
A. The proxy
(BPooling arrangements
C. Voting trust
D. None of the above

When distributing the profits in a USA Limited Partnership

A general partner has absolute authority to decide, not only when distubitions are made
but also whether they will be made
B. Profits and losses are allocated on the basis of the general parties decision
C. The arrangement for sharing of profits and laws can be in writing and can be
D. All of the above

What does General Partnership in USA means

A. An entity consists of only one person
An entity consists of at least two persons
C. An entity consists of at last three persons

Constituent meeting in a Joint Stock Company takes place

Only one time to revise the steps of the company's formulation
B. Annually to distribute dividends
C. Takes place to increase/decrease capital or to amend the article of incorporation
D. Two times

Off Shore and Holding Companies are formed and established based on:
A. Limited Liability Partnership
B. Limited Liability Company
Joint Stock Company
d. Limited Partnership by Share

A Limited Liability Company must be transformed into Partnership when:

A. The number of partners goes below three
B. The capital increase above 6 million Lebanese Pounds
The number of partners goes above 30
D. The number of partners goes above 20
Regarding a Lebanese Unlimited Partnership, partners are considered by law:
A. Non-merchants
B. Merchants
C. Some partners are merchants, while others are not
D. None of the above

A business concern:
Have the legal personality when operating

In the US the law of corporation is:

MBCA (model business corporation act)

The dissolution:
Is not necessarily termination

The name of a limited partner in a limited partnership:

Can appear in the name of the company

The shareholder can:

Inspect the books and records of the coporation
And transfer their shares

The bylaws of a corporation in the US

Can limit its duration

A flow through treatment means that the company:

Pays double taxes

The sole proprietorship concerns:

A small business

The funding of a limited partnership is composed of:

Partner contributions

The legal personality means

a. Can own property
b. Can sue and be sued
c. Can open a bank account

The limited liability company in the states

pays taxes

In the unlimited partnerships there are:

One type of partners