You and your neighbor Diane have agreed to be partners in CreatePlace Site Design, a website design business for small businesses, clubs, and community agencies. After reading the information below, indicate which are indicative of a general partnership and which are indicative of a limited partnership using the drop-down menu. You will also decide who will be a limited partner and who will be a general partner in your new business. Diane wants to invest $5,000 but she will not have an active role in the new business. You prefer to work directly with customers, make decisions, and to do the actual website design. You will be responsible for signing contracts on behalf of the new business. Diane will not be liable for any debts. Diane will not make business decisions and receive 30 percent of the profits. You will receive 50 percent of the profits plus a small monthly fee for management services. Diane's name will not be mentioned in any promotional materials about the business.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You and your neighbor Diane have agreed to be partners in CreatePlace Site Design, a website design business for small businesses, clubs, ...” 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
Assume that Jack, Hal, and Sophia enter into a valid contract for the sale of the restaurant and for a covenant not to compete.
Answers (1)
After posting the entries to close all revenue and expense accounts, Marker Company's Income Summary account has a credit balance of $9,200, and its Marker, Withdrawals account has a debit balance of $4,100.
Answers (1)
Suppose an increase in interest rates causes rising unemployment and falling output. to counter this, the federal reserve would a. increase the money supply. b. increase government spending. c. decrease the money supply. d.
Answers (1)
A new project is expected to generate an operating cash flow of $38,728 and will initially free up $11,610 in net working capital. Purchases of fixed assets costing $52,800 will be required to start up the project.
Answers (1)
Harry's Pizza Parlor produced 10,000 large pizzas last year that sold for $10 each. This y ear Harry's produced 11,000 large pizzas (identical to last year's pizzas) but sold them for $12 each.
Answers (1)
New Questions in Business
Company X had net income of $200,000 in the year 2016. At the beginning of 2016, there were 500,000 shares of outstanding common stock, and 200,000 more shares were issued on July 1, 2016.
Answers (1)
Sprint Nextel Corp stock ended the previous year at $25.00 per share. It paid a $2.57 per share dividend last year. It ended last year at $18.89. If you owned 650 shares of Sprint, what was your dollar return and percent return? A. $2,960; 11.13%B.
Answers (1)
A step out is a pricing practice in which a firm: a. maintains a high price for a product throughout its life cycle. b. offers an extremely low price on a single product purchase to reach the mass market quickly and capture a large market share. c.
Answers (1)
Antonio is a telecommunications expert, and he has just been asked to determine how to maximize the effectiveness of a wireless network. he checks with several company executives to determine what they would like to see when the system is complete.
Answers (1)
When not responding to e-mails, the lawyer on call is encouraged to actively pursue cases that potentially could lead to large settlements.
Answers (1)