What is the distinguishing feature of the limited partnership?
(a)The partners run the business together and share all profits and losses according to the partnership agreement.
(b)The partners have liabilities limited to their personal assets only.
(c)Some partners are involved as investors while other partners manage every day operations.
(d)The partners have their investments protected from the creditors; however, they are liable for up to the amount of
(e)The partners can elect the board of directors that selects the managers to run the business in the interest of the
I answered (b) on my test, but my teacher marked it wrong. I'm now confused about this. Any help would be appreciated.
Which type of partners in limited partnership should participate in management? a) General partners only b)Limited partners only. c)Both general and limited partners. d)General partners only, unless there are no general partners,
Under the Revised Uniform Partnership Act a. partners are co-owners of partnership property b. partners don't have transferable economic interests c. partnership property is owned by the partnership d. the partnership is an
Which of the following is a cause for the dissolution of a partnership? A. written consent of the general partners B. withdrawal of a general partner C. withdrawal of all limited partners D. acquisition of business by another
Question: Bright is a partner in a firm of accountants. Without consulting the others, he orders a word processor, though the price exceeds the figure for which agreement of all partners is required by the partnership agreement.
1. Have a conversation with your friends. 2. Have a communication with your partners. 3. Have a chatting with your partners. 4. Have a talking with your classmates. 5. Have a speaking with your close friends. 6. Converse with your
Is anyone can help me to solve this problem beloww. thank you very much. PROBLEM 1: On Jan 1, 2011, the Rhiri, Brit & Keisha partnership is formed. Rhiri and Brit contribute cash of $30,000 and $20,000 respectively, while Keisha
please can you help how to get the answers fpr this problem solving .. I am really could not get the correct answer. problem: On Jan 1, 2011, the Rhiri, Brit & Keisha partnership is formed. Rhiri and Brit contribute cash of
pls.hep me to solve tjis problem.. is anyone willing to solve please. PROBLEM 1: On Jan 1, 2011, the Rhiri, Brit & Keisha partnership is formed. Rhiri and Brit contribute cash of $30,000 and $20,000 respectively, while Keisha
Which are the principal economical partners of Canada? Living in Canada, I can answer that. The principal economic partner of Canada is the USA, and the number one partner of the USA is Canada. Together we form the largest trading
Needs the entries for the following scenarios: Capital accounts as follows : Mason ; 90,000 Jiri; 30,000 James; 60,000 a) Frank pays mason 25,000 for 20% of masons interest in the company b) Frank invests 60,000 cash in the