FOUND.OF FINANCIAL MANAGEMENT-ACCESS
FOUND.OF FINANCIAL MANAGEMENT-ACCESS
17th Edition
ISBN: 9781260519969
Author: BLOCK
Publisher: MCG
Question
Book Icon
Chapter 1, Problem 4DQ
Summary Introduction

To Explain:The type of partnership that allows investors to limit their liability.

Introduction:

Partnership:

Partnership refers to a type of business in which two or more people agree to share the responsibility of managing the business, profits and losses through a partnership deed. The profits/losses earned by the business are generally shared in a particular ratio. The partners are also given other special benefits. A partnership is basically of two types - general and limited.

Blurred answer
Students have asked these similar questions
A partnership is less stable because it can easily disssolved. * What is the basis of capital sharing if the partners do not have an agreement as to of their individual capital contribution?.
Why an outstanding weakness of a limited partnership interest as an investment is its lack of liquidity or marketability?
6. A loan payable to a partner may be offset against his capital deficiency just as a loan receivable from a partner may be offset against his capital balance.a. Trueb. False
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Text book image
Entrepreneurial Finance
Finance
ISBN:9781337635653
Author:Leach
Publisher:Cengage
Text book image
Individual Income Taxes
Accounting
ISBN:9780357109731
Author:Hoffman
Publisher:CENGAGE LEARNING - CONSIGNMENT
Text book image
College Accounting, Chapters 1-27
Accounting
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:Cengage Learning,
Text book image
SWFT Corp Partner Estates Trusts
Accounting
ISBN:9780357161548
Author:Raabe
Publisher:Cengage
Text book image
Personal Finance
Finance
ISBN:9781337669214
Author:GARMAN
Publisher:Cengage