Ask Question
BusinessBusiness
24 June, 05:48

which of the following is one importany difference between a general partnership and a limited partnership?

+5
Answers (1)
  1. 24 June, 06:03
    0
    The difference is that in a general partnership every partner is fully responsible for the business's debts.

    Explanation:

    The business arrangement where at least two people are proprietor of a business is called general partnership. Every partner has equal power in general partnership. A limited partnership is different from a general partnership in that it requires a partnership agreement. A limited partnership has the provision of limited and general partners A limited partner does not have the power to operate the business. They are the investors. The general partners have the jurisdiction to run the business.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “which of the following is one importany difference between a general partnership and a limited partnership? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
A preferred stock is expected to pay a constant quarterly dividend of $1.25 per quarter into the future. The required rate of return, Rs, on the preferred stock is 13.5 percent. What is the fair value (or price) of this stock?
Answers (1)
Twenty-five thousand shares reacquired by Bremer Corporation for $53 per share were exchanged for undeveloped land that has an appraised value of $1,700,000.
Answers (1)
What are cashiers checks required for
Answers (1)
When creating a data backup plan or policy, what five basic questions should be answered?
Answers (1)
Brangelina Adoption Agency's general ledger shows a cash balance of $4,583. The balance of cash in the March-end bank statementis $7,325.
Answers (1)
New Questions in Business
Darren is a certified interior designer with a lucrative client list in the city of kelsa, situated in the state of touslon. his business affords him a substantial amount of goodwill from his clients.
Answers (1)
The Shoal Company's manufacturing costs for the third quarter of 2019 were as follows: (CPA adapted) Direct materials and direct labor $ 770,000 Other variable manufacturing costs 135,000 Depreciation of factory building and manufacturing equipment
Answers (1)
Which of the following individuals are required to pay taxes to fund Social Security and Medicare? A. Employees. B. Employers. C. Self-employed individuals. D. Employees, employers, and self-employed individuals.
Answers (1)
Mopsun, a garment store, sells customized hoodies at $7 per unit. the total fixed costs add up to $8000 per year, and the variable costs add up to $3 per unit. how many hoodies should mopsun sell every year in order to cover all costs?
Answers (1)
Assume that a restaurant is hiring labor in an amount such that the MRC of the last worker is $16 and her MRP is $12. On the basis of this information we can say that:A. profits will be increased by hiring additional workers. B.
Answers (1)
Home » Business » which of the following is one importany difference between a general partnership and a limited partnership?
Sign Up Forgot Password?