How is a limited liability partnership different from a partnership?
Question:
Partnership
A 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...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (11 reviews)
The main difference is that the partners in a limited liability pa...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Concepts In Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
Question Posted:
Students also viewed these Business Law questions
-
How is a limited liability company different from a corporation?
-
What is a limited liability partnership and how is it different from a limited partnership?
-
Is a limited liability company an appropriate form of ownership for an aggressive entrepreneurial firm, and why might this be so?
-
In the Diffie-Hellman protocol, what happens if, x and y have the same value? That is, Alice and Bob have accidentally chosen the same number. Are the values of R1 and R2 the same? Are the values of...
-
How would you prepare 1.00 L of a buffer with a pH of 7.00 from 0.200 M H3PO4 and 0.160 M NaOH?
-
Banden Ltd is a highly geared company that wishes to expand its operations. Six possible capital investments have been identified, but the company only has access to a total of ?620 000. The projects...
-
Consider the National Football League data in Table B.1. a. Use the forward selection algorithm to select a subset regression model. b. Use the backward elimination algorithm to select a subset...
-
Data on pull-off force (pounds) for connectors used in an automobile engine application are as follows: 79.3, 75.1, 78.2, 74.1, 73.9, 75.0, 77.6, 77.3, 73.8, 74.6, 75.5, 74.0, 74.7, 75.9, 72.9, 73.8,...
-
Case: The rise of ad blockers has begun to make a dent in the advertising revenue earned by content creators and providers. Ad blockers identify and eliminate content based on its IP address,...
-
Worldwide United Corporation (WUC), a U.S. taxpayer, manufactures and sells products through a network of foreign branches and wholly-owned foreign subsidiaries. Relevant information for these...
-
What are the requirements to qualify for the S corporation election?
-
Compare the incidence of taxation for each of the following entities: a. Sole proprietorship b. Partnership c. Corporation d. S corporation
-
Redo Example 3.10 using the Manning equation, assuming that n = 0.013 for all the pipes. Example 3.10 Pipes AB and CF in Figure 3.20 have a diameter of 4 ft, possess a Darcy-Weisbach friction factor...
-
Solve the following differential equation. (2xsiny-y+x)dx+ (x'cosy - 3xy2-2y)dy = 0
-
Suppose the current spot rates are $.135/MXN ask and $.133/MXN bid, combined with current spot rates of .775/$ ask and .765/$ bid. What are the /MXN bid and /MXN ask prices? (to 4 decimal places)...
-
In assessing data that fell into two phenotypic classes, a geneticist observed values of 800: 680. She decided to perform a chi-square analysis by using the following null hypothesis: The data fit...
-
How do individual differences and diversity contribute to the dynamics of team performance in a multicultural organization? Explain
-
Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1 of the current year, Banek Inc. issued $ 7 7 0 , 0 0 0 of 8 % , nine year bonds for $ 6 7 9 , 9 9 0 , which...
-
What are the three primary economic classifications of mergers?
-
You are standing on the top of a building and throw a ball vertically upward. After 2 seconds, the ball passes you on the way down, and 2 seconds after that, it hits the ground below. a. What is the...
-
Larsen & Toubro Ltd (www.larsentoubro.com) is an Indian multinational conglomerate listed on the Bombay Stock Exchange. In the financial year 2011, the companys net income was 4,456 crore, EPS was...
-
Iowa enacted a statute prohibiting the use of sixty-five-foot double-trailer-truck combinations. All of the other Midwestern and western States permit such trucks to be used on their roads. Despite...
-
Metropolitan Edison Company is a privately owned and operated Pennsylvania corporation subject to extensive regulation by the Pennsylvania Public Utility Commission. Under a provision of its general...
-
Miss Horowitz was admitted as an advanced medical student at the University of MissouriKansas City. During the spring of her first year, several faculty members expressed dissatisfaction with Miss...
-
In response to a client request, draft an email that explains why you are unable to fulfill her request. Keeping her as a client is your primary goal, so remember that. The "Company Policy Excuse" is...
-
Share a situation in your personal or professional life that made you more aware that your perception had an impact on a communication exchange. Discuss two strategies for avoiding perceptual errors...
-
What are the primary purposes of corporate restructurin? when and why multi business corporations implement the restructuring strategy? Explain with Example
Study smarter with the SolutionInn App