Mike Nettles approached Nathan Lang about becoming a partner in a firm that destroys environmental waste. While Mike would like to become a partner in the firm, he is concerned about his liability because he has recently inherited a lot of money. In this situation, Mike should become a Group of answer choices 1. general partner with a minority ownership interest in the business. 2. general partner with a majority ownership interest in the business. 3. sole proprietor. 4. joint venturist. limited partner.

Question

Mila Gentry

Business

21 July, 18:38

Mike Nettles approached Nathan Lang about becoming a partner in a firm that destroys environmental waste. While Mike would like to become a partner in the firm, he is concerned about his liability because he has recently inherited a lot of money. In this situation, Mike should become a Group of answer choices 1. general partner with a minority ownership interest in the business. 2. general partner with a majority ownership interest in the business. 3. sole proprietor. 4. joint venturist. limited partner.

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Answers (1)

Know the Answer?

Elianna Morton · Answer 1

limited partner

Explanation:

Limited partner -

In a company or organisation, the part - time owner of the organisation, where the liability of the person can not increase a certain amount in the company is referred to as the limited partner.

The limited partner has only specific voting rights and can invest money in return of the shares.

The limited partner can not interfere in the day - to day activity of the company.

It is also referred to as the silent partners.

Hence, from the given scenario of the question,

The correct option is limited partner.