Question: Explain the difference between a Partnership, a Limited Liability Partnership (LLP) and a Limited Liability Company (LLC). In each structure who has liability?

Explain the difference between a Partnership, a Limited Liability Partnership (LLP) and a Limited Liability Company (LLC). In each structure who has liability?

Step by Step Solution

★★★★★

3.53 Rating (153 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

To understand the differences between a Partnership a Limited Liability Partnership LLP and a Limited Liability Company LLC lets look into the definin... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (2 attachments)

609a708f3da9e_30622.pdf

180 KBs PDF File

609a708f3da9e_30622.docx

120 KBs Word File

Students Have Also Explored These Related General Management Questions!

Explain the difference between limited partnership and limited liability partnership.

In debt reorganization, explain the difference between a composition and an extension.

Explain the difference between a government-owned corporation and a not-for-profit corporation.

Forms of business organizations Businesses can be classified into the following forms: proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership...

answer all the question please 600 720 Question 1 Decio plc is considering two alternative proposals for financing an investment of 240 million. The first is to raise the required funds through a...

Course Number and Title: FI300-61 FINANCE From Book: Ross Westerfield Jordan Essentials of Corporart Financials Eleventh Edition Assignment #1 Please upload your answers to the Blackboard. More...

1.First, you will need to read this law case below: 2.After read through the case opinion, please describe and share with me that you have learned on one of more topics listed below. His professional...

4. Forms of business organizations Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company (LLC), and limited liability...

Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (tLLp). Different forms of...

The legal principle of stare decisis causes judges to: abide by, or adhere to, decided cases. stare blankly when delivering verdicts. rely on his or her own judgment and experience. prepare a...

which is not a factor in determining disability benefits in relation to divorce or separatioin? a) did the right to recieve benefits result from employment during the marriage? b) does the benefit...

Suppose, in the single-factor model, an obligor has a one-period default probability of 2.75 percent and an asset return correlation to the market factor of =0.4. What fractions of its asset return...

1. Find the most frequent bigrams (20 pts) Please complete the freq_bigram function to find the nn most frequent bigrams. Your function should return a list of top_n tuples. Each of the tuples should...

Objective: This activity has the purpose of helping students to implement sorted lists with links (dynamic memory). (Objective 4). Students Instructions: After studying this module, write the answers...

1. In this question, we will see a technique commonly used in mathematics: comparison. We arcsin(x) da) in two different ways and compare the result. In compute the same quantity: general, this...

2.5% budget reduction: Budget used is between 91% and 95% of the budget allocated. 5.0% budget reduction: Budget used is less than 90% of the budget allocated. None: Budget used is greater than 95%...

5. Lewis runs an outdoor adventure company and wants to know what effect a tax change will have on his company's WACC. Currently Lewis has the following financing pattern: Capital Common stock...

Which of the ocean zones shown would be home to each of the following organisms: lobster, coral, mussel, porpoise, and dragonfish? For those organisms you identify as living in the pelagic...

You have recently acquired an investment that will yield the following cash flows over the course of the next four years. End of year $418 $1,189 $643 $263 You have the opportunity to reinvest these...

What is the major role of promotion?

How could the Internet help you to research an investment?

What reasons generally are given for imposing trade restrictions?

Solve Prob. 99 using the stress transformation equation developed in Sec. 9.2. B 80 MPa 30% 30 MPa 40 MPa

Find the web sites of international organizations that promote business development. Identify five corporate members with whom you might seek future employment. Why are you particularly interested in...

The online version of the New York Times has a special section entitled Times Topics issues of continuing interest and coverage by the publication. The current financial crisis is covered and updated...