In which of the following cases can the name of a limited partnership include the surname...
In which of the following cases can the name of a limited partnership include the surname of a limited partner?
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the name is unanimously voted for by other limited partners |
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the limited partner has invested more than the general partner |
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the name is also the surname of a general partner |
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the limited partner has stayed longer than all other partners |
Homework Answers
the name is also the surname of a general partner
The name of the general partner is used and of the surname of both the partners are same, then it can be used as a single name of the corporation.
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In which of the following cases can the name of a limited
partnership include the surname...
The ABCZ partnership was formed for the purpose of developing tracts of land. A, B, and...
The ABCZ partnership was formed for the purpose of developing tracts of land. A, B, and C are individual limited partners and Z, a corporation, is the sole general partner. The corporation has a 20 percent interest in the part- nership and has substantial assets other than its partnership interest. The partnership agreement provides that limited partners can transfer in- come interests only with the consent of the general partner and further pro- vides that the limited partners can freely...
Which of the following roles best fits the situation? Kevin wants to create a business but...
Which of the following roles best fits the situation? Kevin wants to create a business but is not sure what role is best for him. He has capital to invest. He has several partners with which he can begin a business. He has the most management experience of all his potential partners. Limited partner in a limited partnership General partner in a limited partnership Neither a limited or general partner would be a good cho
Fancher organized a limited partnership and is the only general partner. Carley invested $16,900 in the...
Fancher organized a limited partnership and is the only general partner. Carley invested $16,900 in the partnership and was admitted as a limited partner with the understanding that she would receive 6% of the profits. After two unprofitable years, the partnership ceased doing business. At that point, partnership liabilities were $80,500 larger than partnership assets. How much money can the partnership's creditors obtain from Carley’s personal assets to satisfy the unpaid partnership debts?
Which one of the following statemernts concerning a partnership is true? Select one: O a. A...
Which one of the following statemernts concerning a partnership is true? Select one: O a. A partnership terminates at the death of any partner. O b. Income from a limited partnership is taxed as corporate income. O c. A primary advantage of a partnership is the ease of transferring ownership. O d. Limited partners in a limited partnership should be actively involved in management decision e. Under a general partnership, only the key partner is personally liable for the business...
a. Under a General Partnership, partners are liable only to the extent of their capital contributions....
a. Under a General Partnership, partners are liable only to the extent of their capital contributions. True False b. Under a Limited Liability Limited Partnership, the liability of all partners is limited to the amount of their investments in the firm. True False c. When a partner ceases to be associated in the carrying on of the partnership business, this is called: A. Joint and several liability B. A fiduciary duty C. Winding up D. Dissociation d. Which of the...
Which of the following is a characteristic of a general partnership?
Which of the following is a characteristic of a general partnership? a. The partnership is subject to federal income tax. b. The partners have limited liability. c. The partnership has an unlimited life. d. The partners have co-ownership of partnership property.
The individual assets invested by a partner in a partnership a revert back to that partner...
The individual assets invested by a partner in a partnership a revert back to that partner if the partnership liquidates. e determine that partner's share of net income or loss torre you c. are jointly owned by all partners. d. determine the scope of authority of that partner. Which one of the following would not be considered e following would not be considered a disadvantage of the partnerstig om organization? a. Limited life b. Unlimited liability c. Mutual agency d....
Which of the following is not a legal characteristic of a general partnership?
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Which one of these characteristics best describes the primary advantage of being a limited partner rather...
Which one of these characteristics best describes the primary advantage of being a limited partner rather than a general partner? Multiple Choice Personal financial liability limited to the capital invested Entitlement to a larger portion of the partnership's income Profits free of any income taxation Day-to-day management control of the business Overall control of the partnership
which of the following is considered a partnership termination? a. over 50% of the operations are...
which of the following is considered a partnership termination? a. over 50% of the operations are discontinued and no part of any business financial operation or venture is continued by any of its partners in a partnership b. all of the oprations are discontinued and no part of any business financial operation or venture is continued by any of its partner in a partnership c. over 50% of the operations are discontinued and less than 50% of the business financial...
The ABCZ partnership was formed for the purpose of developing tracts of land. A, B, and C are individual limited partners and Z, a corporation, is the sole general partner. The corporation has a 20 percent interest in the part- nership and has substantial assets other than its partnership interest. The partnership agreement provides that limited partners can transfer in- come interests only with the consent of the general partner and further pro- vides that the limited partners can freely...
Which of the following roles best fits the situation? Kevin wants to create a business but is not sure what role is best for him. He has capital to invest. He has several partners with which he can begin a business. He has the most management experience of all his potential partners. Limited partner in a limited partnership General partner in a limited partnership Neither a limited or general partner would be a good cho
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The individual assets invested by a partner in a partnership a revert back to that partner if the partnership liquidates. e determine that partner's share of net income or loss torre you c. are jointly owned by all partners. d. determine the scope of authority of that partner. Which one of the following would not be considered e following would not be considered a disadvantage of the partnerstig om organization? a. Limited life b. Unlimited liability c. Mutual agency d....
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