What is the purpose of establishing a limited partnership? a. To ensure that the life of the
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What is the purpose of establishing a limited partnership?
a. To ensure that the life of the partnership is limited
b. To ensure that assets are limited to those contributed by its owners
c. To enable partners to invest in the partnership without assuming liability for the debts of the partnership and without assuming management duties
d. None of the above.
PartnershipA legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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c To enable partners to inves...View the full answer
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Related Book For 
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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