Liberty BUSI 301 Connect Homework Chapter 13 Answers Complete Solutions
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In a limited partnership, the general partner is
A(n) partnership has at least one general partner and at least one limited partner.
When it comes to partnership debt and liability, all partners in a partnership are
If a limited partner engages in activities reserved for general partners, the limited partner may
Which of the following are typically used to denote a limited partnership?
In a sole proprietorship, who is liable for unpaid debts of the business?
How does a business entity funds its operations is referred to as __
Loyalty, care, and good faith are
Executing a judgment can involve steps such as:
Which of the following is not a source of funding for partnerships?
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__ is the factor that addresses how easy it is to form and maintain a business entity.
Which of the following is the term to describe an entity that, for tax purposes, means that the partnership entity pays no level of corporate tax.
Approximately forty states have adopted all or substantial portions of the revised uniform __ act.
Parties who may not intended to become partners can still have liability as partners through a theory of __ partnership.
Which of the following is considered the main disadvantage of the sole proprietorship business formation?
When a limited partnership interest is sold to the public, the transaction is subject to federal and state __ laws.
Which of the following is a correct statement regarding general partner liability under general partnership law?
A __ partner is also referred to as an investing principal.
In a limited partnership, the limited partner’s liability is
A __ partnership is typically defined as an association of two or more people or entities who are co-owners and co-managers of a business and share in the profits of an ongoing business operation.
When forming a limited partnership, name, address, and partner capital contribution are typically items found in the
Limited partners are primarily __ in a limited partnership
In a limited partnership, tax is paid based on the
Death or personal bankruptcy of the owner are examples of how a sole proprietorship is terminated by
A(n) __ proprietorship accounts for income taxes through the individual owner’s personal return.
A __ __ is the easiest single-person ownership entity to form and maintain.
Voluntary separation, expulsion and a partner’s incapacity are recognized events under RUPA that are considered to be events of
A general __ is where two or more principals have demonstrated an intent to carry on as co-owners of a business for profit.
An arrangement of continuing commercial relationship for the right to operate a business pursuant to the franchisor’s trade name or to sell the seller’s branded goods is a(n)
Which of the following is the simplest multiple-person business entity?
The RUPA provides that partners have the power to bind the partnership to __ obligations regardless of the knowledge of the other partners.
Which of the following is a limited partner entitles to perform?
A __ venture is a limited-in-time business relationship typically governed by the same legal principles as a general partnership.
In a limited partnership, __ partners are subject to restrictions on withdrawal.
