What are the main components of a business partnership agreement?
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- 5. Distinguish between three types of merger. Give examples:Why wouldnt you want to choose other business entity types besides LLC , Limited liability company?Mr Abdullah has a small business. Because of several reasons, he could not expand his business. Now he invited his friend Mr Ayman into the business and he invested a big amount. Now they are doing the business together. Based on this scenario, which of the following forms of business did they start? O a. Limited liability company O b. None of the options O. Partnership business O d. Sole proprietorship business
- 1. Goldie and Hattie want to develop real estate and want to organize it under their state's Revised Uniform Limited Partnership Act. (a) Please advise Goldie and Hattie about what they will need to create and capitalize their partnership. (b) What advantages does the limited partnership business form offer to them over the general partnership? (c) What should Goldie and Hattie expect about their personal liability and tax situation?Felicia is starting an e-commerce business. She is deciding which entity to use for the business. All of the following are true related to entity characteristics, except: O You don't necessarily have to create an entity to operate a business. O Cash taken out of partnerships/S-Corps by owners is generally not taxable. O Partnerships and S Corporations, generally, do not pay entity level income taxes OC Corporations pay an entity level tax and any dividends to shareholders are not taxable.Why does a partnership require a partnership agreement? ➢ Identify some of the critical features of a partnership agreement.
- When trying to determine the best business type to launch, a restaurant owner is confused about what differentiates a sole proprietorship from a partnership. Which of the following could be used to explain the difference? a) A partnership is considered a special entity, whereas a sole proprietorship is not. b) A sole proprietorship has a sole owner who takes on all the debt instead of sharing it. c) A partnership has two owners while a sole proprietorship has a holding company. d) A partnership is a very large business with smaller companies underneath.24. When determining whether a partnership exists, which of the following factors would a court consider? Group of answer choices A. Whether the organization intended to make a profit B. Were the participants involved in the management of the business? C. Did the participants have an agreement? D. All of the above