Problem

2. A partnership needs at least one general partner. In the case of Cedar Fair,a. Who is (...

2. A partnership needs at least one general partner. In the case of Cedar Fair,

a. Who is (are) the general partner(s)?


b. What role does the general partner have in running Cedar Fair?


c. What is this partner’s legal liability for the partnership’s liabilities?


d. What is the percentage of ownership for the general partner?


e. How is the general partner compensated by the partnership? Does this seem reasonable given the risk and work performed for the partnership?

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Solutions For Problems in Chapter 16