Question: One of the primary differences between a general partnership and a limited partnership is that Multiple Choice a general partnership is usually funded through debt;

One of the primary differences between a general partnership and a limited partnership is that

Multiple Choice

  • a general partnership is usually funded through debt; a limited partnership is funded by the sale of ownership rights through public markets.

  • a general partnership pays corporate taxes; a limited partnership is only responsible for filing an information return with taxing authorities.

  • partners in a general partnership invest in a business but do not manage it; partners in a limited partnership jointly own and manage their business.

  • partners in a general partnership are permitted to bind the partnership; limited partners do not have the authority to bind the partnership.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

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

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

What is the maximum gage pressure in the odd tank shown in the figure? Where will the maximum pressure occur? What is the pressure force acting on the top (CD) of the last chamber on the right-hand...

Q:

One of the primary differences between a general partnership and a limited partnership is that Multiple Choice partners in a general partnership invest in a business but do not manage it; partners in...

Q:

Bankruptcy law is exclusively federal law and, in 2005, the bankruptcy abuse prevention and consumer protection act was passed by congress that made it more difficult for debtors to file for...

Q:

BUSINESS LAW - BLAW150 - Winter 2017 Instructor: Frank Fischer ASSIGNMENT #2 - 1st Alternative DUE DATE: Friday April 21, 2017 11:59 pm I have decided to create two (2) alternative assignments for...

Q:

Chapter 1 Introduction to Accounting NAME ___________________________________________________ DATE _______________________________ 1. Which of the following events would be recorded as an accounting...

Q:

Please help me with the following partnership income tax return project. Data and applicable forms are attached. Christy Albright and Dan Ralls formed the Charter Company on 11/30/2006, and chose a...

Q:

1.A partnership in which the partners divide the profits and management responsibilities and share unlimited personal liability for the partnership's debts is called a(n) _____. Multiple Choice...

Q:

Not every part of the form need to be filled out. So please read the direction carefully. thank you. Forms to Complete (2015) Form 1065 (not Schedule B) Schedule Dand Forms 8949 Form 1125-A Schedule...

Q:

Use the information presented to prepare a Form 1065 and Schedule D. Also prepare one Schedule K-1 (on form 1065) for Ms. Maine. ACCT 346 Spring 2014 Tax Return Case Study Part 2 -- Form 1065 During...

Q:

Organizing a business is one of the riskiest endeavors someone will enter into as there are legal risks inherent in doing business. Different types of organizational structure are available, and...

Q:

Part 3 of the tax return, for a S Corp. Form 1120S Research Associates Gross receipts Cost of goods sold Dividend income Interest income Long-term capital loss Compensation of officers Salaries &...

Q:

find the least squares regression line treating weight as the explanatory variable and miles per gallon as the response variable Question 2, 4.2.24 Part 1 of 4 Car Weight and MPG example Weight...

Q:

Suppose that the probability density function (p.d.f.) of the life (in weeks) of a certain part is f(x) = 3x (500) (c) Determine P(Y 200). (a) Compute the probability the a certain part will fail in...

Q:

Which of the following skatements about attitudes and behavion is TRUE? Cogitive divonance results from behulons and ampludes, or two different ambules, alleving and being eompatible with one...

Q:

Case Greenbuilders Pte Lid ("GPL") is a local construction company which specialises in providing bespoke Design and Build construction services for private residential homes that are designed to be...