Foundations of Business (Standalone Book) (MindTap Course List)
5th Edition
ISBN: 9781305511064
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
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Question
Chapter 4, Problem 2DQ
Summary Introduction
To determine: The reasons on which an investor choose to become a partner in a limited
Introduction: A partnership is a type of business where at least two individuals share proprietorship and the duty regarding dealing with the organization and the salary or losses that are produced in the business.
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You have been invited to become a member of a partnership. What are five of the considerations you need to assess in making a decision whether to join the partnership and whether to become a general or limited partner?
What does a limited partnership need to do if it wants to continue operations after a general partner withdraws?
Is a limited partnership more likely or less likely to have a partnership agreement than a general partnership?
Chapter 4 Solutions
Foundations of Business (Standalone Book) (MindTap Course List)
Ch. 4.1C - Prob. 1CCCh. 4.1C - Prob. 2CCCh. 4.1C - Prob. 3CCCh. 4.2B - Prob. 1CCCh. 4.2B - Prob. 2CCCh. 4.2B - Prob. 3CCCh. 4.3C - Prob. 1CCCh. 4.3C - Prob. 2CCCh. 4.4C - Prob. 1CCCh. 4.4C - Prob. 2CC
Ch. 4.4C - Prob. 3CCCh. 4.4C - Prob. 4CCCh. 4.5B - Prob. 1CCCh. 4.5B - Prob. 2CCCh. 4.6C - Prob. 1CCCh. 4.6C - Prob. 2CCCh. 4.7B - Prob. 1CCCh. 4.7B - Prob. 2CCCh. 4.8C - Prob. 1CCCh. 4.8C - Prob. 2CCCh. 4.8C - Prob. 3CCCh. 4.8C - Prob. 4CCCh. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - Prob. 5DQ
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Similar questions
- What is the difference between a general partnershipand a limited partnership?arrow_forwardhow is a limited partnership transferred or sold and how the ownership interests would be handled?arrow_forwardAssume 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_forward
- If you were to become a partner in a limited partnership, which would you prefer: being a general partner or being a limited partner? Explain your answer in 3 to 5 sentences only.arrow_forwardArticulate the advantages and disadvantages of partnerships, LPs, LLCs, and LLPs. Please be sure to include in your discussion the characteristics of each type of business entity and what makes them unique.arrow_forwardWhat are the main distinctions between an ordinary partnership and a private limited company?arrow_forward
- What is the most concerning disadvantage of sole proprietorship and partnership? Why?arrow_forwardEvery organization is formed into an entity of some sort, and is usually done to protect individuals from liabilities connected with business operations. If you were starting your own business, which entity formation would you use--sole proprietorship, partnership, LLC, or corporation? Why? Which entity formation would you never use? Why?arrow_forwardIf a CEO has an opportunity to merge with or acquire another company and is reasonably certain that the transaction will benefit shareholders, is the CEO obligated to pursue the deal? Why or why not?arrow_forward
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