Ask Question
BusinessBusiness
24 September, 10:42

which of the following is one importany difference between a general partnership and a limited partnership?

+5
Answers (1)
  1. 24 September, 10:51
    0
    The difference is that in a general partnership every partner is fully responsible for the business's debts.

    Explanation:

    The business arrangement where at least two people are proprietor of a business is called general partnership. Every partner has equal power in general partnership. A limited partnership is different from a general partnership in that it requires a partnership agreement. A limited partnership has the provision of limited and general partners A limited partner does not have the power to operate the business. They are the investors. The general partners have the jurisdiction to run the business.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “which of the following is one importany difference between a general partnership and a limited partnership? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
2x-0.5y=8 x and y intercept
Answers (2)
Headrest reduce the risk of neck injury in a rear end collision true or false
Answers (1)
On December 31, 2017, Coolwear, Inc. had a balance in its prepaid insurance account of $48,400. During 2018, $86,000 was paid for insurance.
Answers (1)
Hanung Corp has two service departments, Maintenance and Personnel. Maintenance Department costs of $360,000 are allocated on the basis of budgeted maintenance-hours.
Answers (1)
Calculate the sale-to-cash conversion period based on the following information: average inventories = $120,000; average receivables = $85,000; average payables = $40,000; cost of goods sold = $182,500; and net sales = $325,000.
Answers (1)
New Questions in Business
Osborn Manufacturing uses a predetermined overhead rate of $19.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $256,080 of total manufacturing overhead for an estimated activity level of 13,200 direct
Answers (1)
A corporation has 44,904 shares of $26 par value stock outstanding that has a current market value of $238 per share. If the corporation issues a 5-for-1 stock split, determine the number of shares outstanding. Select the correct answer.
Answers (1)
A tire manufacturer produces 400 tires valued at $20 each. Three hundred tires are sold to a tire shop, which then sells them to households for $50 each. The remaining tires are unsold and are added to the tire manufacturer’s inventory.
Answers (1)
Cunningham, Inc. sells MP3 players for $60 each. Variable costs are $40 per unit, andfixed costs total $60,000. How many MP3 players must Cunningham sell to earn netincome of $140,000?
Answers (1)
Calculate the accounting profit or loss as well as the economic profit or loss in each of the following situations: a. A firm with total revenues of $150 million, explicit costs of $90 million, and implicit costs of $40 million b.
Answers (1)
Home » Business » which of the following is one importany difference between a general partnership and a limited partnership?
Sign Up Forgot Password?