Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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- describe the advantages of an LLC versus operating as a sole proprietorship, general partnership, limited partnership, C Corporation, and S Corporation.arrow_forwardCompanies A and B differ only in their capital structure. A is financed 30% debt and 70% equity: B is financed 10% debt and 90% equity. The debt of both companies is risk-free. a. Rosencrantz owns 1% of the common stock of A. What other investment package would produce identical cash flow for Rosencrantz? b. Guildenstern owns 2% of common stock of B. What other investment package would produce identical cash flows for Guildenstern?arrow_forwardhi can i get help with these please?arrow_forward
- Assume that you and some of your classmates will form a partnership of some type for the sole purpose of investing in real estate. You meet at your favorite restaurant and draft an informal agreement that will be the starting point of your new entity. Write that agreement. What would be your role relative to your partners?arrow_forwardIdentify five reasons why a partnership may be dissolved.arrow_forwardDiscuss the key characteristics of a private limited company and a partnership.arrow_forward
- What is a continuation agreement? Why is it important in an LLP?arrow_forwardPartnership agreements can be modified: (A) Only with prior approval from the IRS. (B) At any time if agreed to by all partners, for both formal written agreements or informal agreements. (C) Only in writing, regardless of whether the partnership agreement is formal or informal. (D) If more than 75% of the partners agree to the modifications to the agreementarrow_forwardIs it a good idea to put a minimal amount of information down on the limited partnership agreement?arrow_forward
- Which is true about a limited partnership (LP)? a. General partners are exposed to liability for all of the businesses’ debts, and limited partners are only exposed to the extent of their investment b. Limited partners are exposed to liability for all of the businesses’ debts, and general partners are only liable to the extent of their investment c. All partners, both general and limited, are exposed to liability for all of the businesses’ debts d. All partners are exposed to liability only to the extent of their investmentarrow_forward1. 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?arrow_forwardhow is a limited partnership transferred or sold and how the ownership interests would be handled?arrow_forward
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