True or False 1 Sole proprietorships must file a tax return 2 Ownership in a partnership is not transferable 3 Creditors of a partnership must first seek recovery from partnership assets before going after the personal assets of a partner 4 In both a limited partnership and a limited liability limi...

True or False: 1. Sole proprietorships must file a tax return. 2. Ownership in a partnership is

Question:

True or False:
1. Sole proprietorships must file a tax return.
2. Ownership in a is not transferable.
3. Creditors of a must first seek recovery from assets before going after the personal assets of a partner.
4. In both a limited and a limited liability limited the partners are not personally liable for the debts of the Venture capitalists often require companies they own to become LLCs before going public.

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...