From the article we can learn that
American government will tighten its control over the use of patients' personal information
B. doctors and insurers are both against the rules for the same reasons
C. patients are entitled to have complete control of their medical information
D. the new rules put insurers in a very disadvantageous position
•Read the following article about partnership and the questions below the passage.
•For each question (13—18), mark one letter (A, B, C or D) mi your Answer Sheet for the answer you choose.
Understanding Partnership
The Uniform. Partnership Act defines a partnership as "an association of two or more persons to carry on as co-owners of a business for a profit." The partnership came into being us an evolutionary outgrowth of the proprietorship by correcting stone of tile disadvantages of that ownership form. The formation of a partnership is relatively simple, but because it involves two or more people, it must be based upon an understanding between the partners. In other words, a contract is required. Although the contract can be oral. it is wiser to have so important a document drawn up by an attorney. A contract of this sort is called the Articles of Co-partnership.
Partnership has ninny advantages. Firstly, it is relatively simple to organize and dissolve. Although not as simple to organize as a sole proprietorship because Articles of Co-partnership are required, partnerships are simpler and less expensive to form. than corporations. Second[y, it is subject to less government control. As is the case with sole proprietorships, partnerships are not controlled by the same federal and state laws as are corporations. Thirdly, it can keep larger tax savings. Unlike corporations, partnerships are not legal entities. Partnerships, therefore, do not have special taxes levied on them. Finally, it may provide a high personal incentive. Because the partnership business is carried on by working owners, this form. of business ownership retains the high incentive of the sole proprietorship. The partners are working for themselves, and consequently are rewarded for extra effort.
Although many of the advantages of a sole proprietorship are carried over into partnership, many of its disadvantages are as well. Like the sole proprietorship, partnerships have the disadvantages of unlimited liability. This means that in the case of bankruptcy of the business, both partners' personal assets must be used to settle partnership debts. When one partner's investment plus his personal assets are insufficient to meet his share of the creditor's claims, these debts must be settled by the remaining partner or partners. Furthermore, it is difficult to raise money for partnership and the disagreements among partners may easily result in the failure of the partnership.
The form. of partnership previously discussed is that of a general partnership. There are other forms of partnership available to businessmen which have specific advantages or overcome specific disadvantages of the general partnership.
A limited partnership is one in which the liability of one or more of the partners is limited to the amount invested by him. A limited partnership must have at least one general partner whose liabilities are unlimited. Limited partnerships take advantage of the tax savings available to partnerships while maintaining some of the capital-raising resources available to corporations. However. they are legally complicated and expensive to set up; further, any activity by a limited partner may result in the loss of his limited status (and his limited liability); and they are not permitted to do business in all states.
A joint venture is a partnership that has been set up for one specific undertaking. Upon completion of the undertaking, the joint venture is dissolved. Unlike a general partnership, the joint venture is not a continuing business. However, this need not be the case. The prime characteristic is its limitation to one specific venture.
According to the text, partnership is derived from
A. corporation.
B. sole-proprietorship.
C. co-operative.
D. joint venture.
There is much discussion today about whether economic growth is desirable. At an earlier period, our desire for material wealth may have been justified. Now, howerer, this desire for more than we need is causing serious problems. Even though we have good intentions, we may be producing too much, too fast.
Those who criticize economic growth argue that we must slow down. They believe that society is approaching certain limits on growth. These include the fixed supply of natural resources, the possible negative effects of industry on the natural environment, and the continuing increase in the world's population. As society reaches these limits, economic growth can no longer continue, and the quality of life will decrease.
People who want more economic growth, on the other hand, argue that even at the present growth rate there are still many poor people in the world. These proponents of economic growth believe that only more growth can create the capital needed to improve the quality of life in the world. Furthermore, they argue that only continued growth can provide the financial resources required to protect our natural surroundings from industrialization.
This debate over the desirability of continued economic growth is of vital importance to business and industry. If those who argue against economic growth are correct, the problems they mention cannot be ignored. To find a solution, economists and the business community must pay attention to these problems and continue discussing them with one another.
What is this passage primarily concerned with?
A. The problems caused by economic growth.
B. The desirability of economic growth.
C. The desire for more material wealth.
D. The limits of economic growth.