The partner in a limited partnership that has unlimited liability is referred to as theSeleccione una:a. unlimited partner.b. head partner.c. lead partner.d. general partner.

d. general partner.Explanation:General Partner in a Limited Partnership:In a limited partnership,…

Answered: The partner in a limited partnership…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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In a partnership liquidation, the final cash payment to the partners should be made in accordance with the*a. balance of partners' capital accounts.b. partner's profit and loss sharing ratio.c. ratio of the capital contributions by partners.d. safe payment computations.
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In a limited partnership O all partners have unlimited liability the general partners have limited liability O the general partners have unlimited liability O all partners have limited liability
A limited partnership differs from an ordinary partnership by Ohaving a limited number of partners. O having a limited number of customers O Including some partners whose liability is restricted to the amount that they invested in the firm. having unlimited liability for all partners.
, enumerate and briefly discuss the following: • 3 Types of Organizations According to Ownership • Advantages and Disadvantages of Partnership • Characteristics of Partnership • Kinds of Partnership • Kinds of Partners
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How does a limited liability partnership (LLP) differ from a general partnership? Legal limits have been established regarding the number of people who can participate in the LLP. OLLP partners are liable for some or all of the obligations of the partnership, but have limited liability for the negligence or malpractice of other partners. O LLP partners have limited liability for the obligations of the partnership but unlimited liability for the negligence or malpractice of other partners. Participation in the LLP is limited to members of a regulated profession, such as accounting or health care. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
loan to partner , the debit side will be in the partnership Select one: a. cash b. No entry c. partner loan d. partner capital
Which of the following best describes the articles of partnership agreement? Multiple Choice The articles of partnership are a legal covenant that may be expressed orally or in writing, and forms the central governance for a partnership's operations. The articles of partnership are an agreement that limits partners' liability to partnership assets. The articles of partnership are a legal covenant and must be expressed in writing to be valid. The purpose of the partnership and partners' rights and responsibilities are required elements of the articles of partnership.
Decribe the principle of "limited liability" in a limited liability partnership.
Every partner may do acts of administration if there was no designated managing partner in the articles of partnership. What principle is applied? Mutual agency Entity theory Fiduciary duty Delegation of authority
Which of the following apply to a partnership that consists solely of general partners? I. Double taxation of partnership profits. II. Limited partnership life. III. Active involvement in the firm by all the partners. IV. Unlimited personal liability for all partnership debts. Group of answer choices II and III only. II only. II, III, and IV only. I and II only. I, II, and IV only.

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The partner in a limited partnership that has unlimited liability is referred to as the Seleccione una: a. unlimited partner. b. head partner. c. lead partner. d. general partner.