What type of Partnership as a business formation would be best suited for a "Silent Partner" (someone whocontributes capital to a company but does not participate whatsoever in day to day operations)O General PartnershipO C CorpO Limited PartnershipO S Corp

General Partnership- This is the kind of partnership where two or more agrees to run a business. In…

Answered: What type of Partnership as a business…

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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__________ entail the creation of a third-party legal entity, whereas __________ do not. Licensing agreements; joint venturesJoint ventures; strategic alliancesStrategic alliances; joint ventures Franchising agreements; strategic alliances
1. Limited Partners are involved in the day-to-day management of thebusiness. T/F 2. A Corporation can continue in existence if the owner leaves thecompany. T/F
What term is used to describe the characteristic of a business entity where an individual(s) associated with an entity can not only lose all of his/her investment in the firm but personal assets can be taken to pay the debts of the firm if necessary? Group of answer choices unlimited liability limited liability dissolution mutual agency
A professional corporation form of organization: Multiple Choice may ultimately decrease liability of all partners of a CPA firm. has similar liability requirements to that of a limited liability company form. eliminates personal liability for selected partners.
One advantage of switching from a partnership to the corporate form of organization is the following: Group of answer choices It subjects the firm to less regulations. It makes it easier for the firm to raise additional capital. It makes the firm's investors subject to greater potential personal liabilities. It makes it more difficult for the firm's investors to transfer their ownership interests.
What are the main advantages of (a) proprietorships, (b) partnerships, and (c) limited liability companies?
The difference between subsidiaries and associates can be said to revolve aroundpower and control. Critically evaluate this statement, giving examples of when a parent company would consider investing in either a subsidiary or an associate.
What options does a group of people have when forming a business? Why might a partnership not be the best form of business organization? What other options might they have?
What are the unique financial reporting implications of the Partnership entity in comparison with the Proprietorship and Corporate structures? How does the closing process differ for the Partnership?
Which of the following statements is most true? a. The liability for other partners’ wrong doings is limited to the amount a particular partner has invested in the partnership. b. Partnerships are formed in accordance with specific guidelines that include the filing of a formal written agreement to the government. c. A fast growing firm would be more probable to establish a partnership as its business form than would a slow growing firm. d.Corporations can easier attract investors than those of the partnership and sole proprietor businesses.
how do owners’ equity accounts in a corporation differ from those in a sole proprietorship or partnership
Which business vehicle(Company or partnership) you will adopt if you are to set up a business and give reasons to support your choice.

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What type of Partnership as a business formation would be best suited for a "Silent Partner" (someone who contributes capital to a company but does not participate whatsoever in day to day operations)