Which of the following forms of business organizations is an agreement between at least one general partner and at least one limited partner?Multiple choice question.The limited liability proprietorshipThe limited liability companyThe professional limited liability companyThe limited partnership
Question
Which of the following forms of business organizations is an agreement between at least one general partner and at least one limited partner?Multiple choice question.The limited liability proprietorshipThe limited liability companyThe professional limited liability companyThe limited partnership
Solution
The correct answer is "The limited partnership". This form of business organization is characterized by an agreement between at least one general partner, who manages the business and assumes legal debts and obligations, and at least one limited partner, who is only liable to the extent of their investments.
Similar Questions
Which of the following types of firms have limited liability?a.Partnerships (general) and corporationsb.Sole tradersc.Corporationsd.Partnerships (general)e.Joint Venture
A(n) Blank______ partnership is an agreement between at least one general partner and at least one limited partner.Multiple choice question.limited liabilitycooperativegenerallimited
Which of the following is not a type of partnership?Multiple choice question.The joint ventureThe cooperativeThe franchiseThe S-corporation
Which form of organization offers limited liability to its owners but is not a separate legal entity? A. Limited partnership B. Sole proprietorship C. Partnership D. Public limited company (PLC)
A limited partnership is composed of at least two or more limited partners.Group of answer choicesTrueFalse
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.