A general partnership would be the best choice of legal entity for a business such as a manufacturing company. True False
Q: In the context of the various forms of business ownership, discuss the two basic types of…
A: The two basic types of partnerships are- General Partnership - Where all the rules are same for…
Q: 5. Which of the following distinguishes a partnership from a corporation? A) A partnership is formed…
A: A business organization refers to an entity that is formed for carrying commercial activities. These…
Q: Partnerships and most LLCs are known as pass-through entities. What does this mean for their…
A: Limited liability companies (LLCs) are going through substances naturally. Except if the proprietors…
Q: Which of the following is a legal entity separate from its shareholders? A general partnership A…
A: A company is said to have a separate legal entity which means it is an artificial person which is…
Q: artnership are legal documents that set forth the basic agreement between partners?
A: A Partnership Agreement is a written document between two or more individuals who join to establish…
Q: Nancy and Gary had been friends since elementary school. During their senior year, Nancy told Gary…
A: A business plan refers to a written format of a plan of action to achieve a determined business…
Q: When the boards of directors of the potential combining companies negotiate mutually agreeable terms…
A: Business expansion and growth are significant for the survival of operations and activities. Today,…
Q: Which of the following business forms is likely to present the greatest risk to an expanding firm in…
A: Which of the following business forms is likely to present the greatest risk to an expanding firm in…
Q: Which type of business allows share limit to 100 shares maximum. a. Partnership. b. S Corporations…
A: A partnership firm is a business owned by a minimum of two individuals. In a partnership business,…
Q: Explain what rights shareholders have in a Joint Stock company? Describe each right in detail.
A: А shаrehоlder (аlsо knоwn аs stосkhоlder) is аn individuаl оr institutiоn (inсluding а…
Q: Which type of business allows share limit to 100 shares maximum. a. Sole Proprietorship b. S…
A: There are several types of business models to follow while establishing a business. If there are…
Q: In a partnership business, which type of partner has unlimited liability? Limited partner Silent…
A: In a partnership business, which type of partner has unlimited liability? General partners For…
Q: Partnership agreements often include provisions that excuse partners from liability if they act in…
A: A partnership is a formal arrangement is an agreement between 2 or more business parties where these…
Q: partnership causes it to dissolve
A: The correct answer is Lack of continuity.
Q: Distinguish between a member-managed limited liability company and a manager-managed limited…
A: A limited liability company is a business structure. Under a limited liability company, the owners…
Q: Most mergers are horizontal in nature in order to avoid the potential antitrust complications…
A: The correct is TRUE.
Q: Promoters or incorporators remain liable for contracts made by them on a proposed corporation even…
A: Promoters or incorporators of a company start working before the corporation is registered or formed…
Q: A business firm whose shares are held by a single person may be a sole proprietorship, but it cannot…
A: A corporation can be defined as a legal entity which is separate and distinct from its shareholders…
Q: The distinguishing feature of a corporation is that A) their is no legal difference between the…
A: A group of people coordinating and working together to achieve a pre-defined mutual goal is called…
Q: 1. The main disadvantage of a corporation is double taxation. a. True b. False 2. A…
A: Since you have asked multiple questions, we will answer the first question for you. If you want a…
Q: A company that distributes earnings to its shareholders refers to which of the following? a.…
A: Find the answers below: The Correct answer is Dividend but option is not available so we may use…
Q: Smith, a shareholder, filed suit against the board of directors of a corporation in which he had…
A: A shareholder, also described as a stockholder, is an individual, corporation, as well as…
Q: Which of the following three statements are true about Limited Liability Companies (LLCs)? Group of…
A: The limited liability companies is a business structure prevalent in US that combines both…
Q: is a long-term partnership between companies to jointly develop, produce, or sell products, while a…
A: Find the answers below: The Correct answer is c) Strategic alliance; joint venture
Q: Razor, Inc. tyros , Inc two automobile companies merged reducing the number of corporations…
A: Razor inc It is an automobile company which is used to manufactures automobiles. It was founded in…
Q: You have incorporated a business which a pack of Tommies now seeks to take over. You oppose this and…
A: IN THE ABOVE CASE,THE TOMMIES SEEKS TO TAKE OVER BUSINESS WHICH IS ALREADY AT THE PEAK STAGE
Q: Assume that you have decided to form a partnership, what articles should be included in a…
A: Partnerships can be complex depending on the scope of business operations and the number of partners…
Q: When a general partnership is sued, the lawsuits often go after the more wealthy partners, ( a) True…
A: When two or more partners share their business debts and assets are said to be a general partnership…
Q: describe a general partnership business venture that would be interested in becoming involved in.…
A: A business organization refers to a legally recognised entity that is formed for carrying out…
Q: Under German company law, all public companies are required to have two boards – a management board…
A: A two-tier board is mainly composed of a supervisory and management board. Both the boards have…
Q: a. If the owner of a business becomes died, explain in words your own the continuity of business in…
A: The three forms of business organization are: 1. Sole Proprietorship: This is a legal form of…
Q: Compare the advantages and disadvantages of the corporation versus the partnership
A: Advantages: For the corporate debts, stockholders are not liable. It is easy to transfer the…
Q: Define public limited liability business with appropriate examples. Briefly explain three main…
A: There are different types of limited liability companies. These are as follows: 1) limited liability…
Q: Ace produced and sold all types of household cleaning supplies except bleach. Ace decided to add…
A: Merger: When a company takes over to another company and establishes itself as a new owner of the…
Q: Stockholders in a corporation have limited liability. True or False True False
A: There are a number of reasons responsible for incorporating a business. Corporation is one of the…
Q: Is the owner of a small corporation "free to make all the decision" as a single proprietor? Explain
A: NO,the owner of a small corporation is not "free to make all the decision" as a single proprietor…
Q: When a new corporation is formed to acquire two or more other corporations through an exchange of…
A: A Merger refers to the combination of one or more business entities into a single business entity in…
Q: Which is true about a limited partnership (LP)? a. General partners are exposed to liability for…
A: A partnership is a venture wherever 2 or more people have control. Partnership contracts must be…
Q: You are interested in starting your own business, you have been advised to register the business as…
A: Process and requirements involved in starting limited company: Selecting the place to start…
Q: Which of the following must occur for a new partner to enter the partnership by acquiring an…
A: Partnership is when a business is carried out by more than one owners. Partnership is not a legal…
Q: Which of the following is not suitable to general partners? They are not subject to same liabilities…
A: General Partnership: A general partnership is a business arrangement where two or more people accept…
Q: is a legal business relationship in which two or more people agree to share ownership and management…
A: Correct answer is Partnership Firm. Which is option A. Partnership firm is a correct option because…
Q: Compare and contrast the similarities and differences between sole proprietorships, corporations,…
A: Similarities between sole proprietorship, corporations & partnership firm: Objective: All…
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- In the event of bankruptcy, which partners would most likely to spend more money to settle the business liabilities? A)Silent partners B)Limited partners C)Industrial partners D)General partners37 - Which of the following should come in the blank space in the expression "............. companies, combining the characteristics of joint stock companies and collective companies"? a) cooperative businesses B) Limited partnership with share capital NS) Limited company D) Incorporated company TO) collective companyWhich of the following statements is correct in relation to limited partners? Select one: a. Their liability is limited to the capital they have agreed to invest in the partnership b. They have no liability for partnership debts c. They have full liability for partnership debts.
- The Smith family has a very successful family tea shop that also provides wireless Internet access and live entertainment. They believe that there is a great deal of growth opportunity in such tea shops and plan to eventually expand. After meeting with their lawyers and accountants, they realize they need to change their business structure to either a corporation or a limited liability company. They understand that both have limited personal liability. Using the information in your text regarding the advantages and disadvantages of each, make a recommendation as to which you would recommend to the Smiths. Provide at least three reasons for your recommendation. Be prepared to defend your point of view. I recommend that the Smiths form a ________________. corporation limited-liability company The rationale for your recommendation is as follows: (Explain your 3 reasons )The Smith family has a very successful family tea shop that also provides wireless Internet access and live entertainment. They believe that there is a great deal of growth opportunity in such tea shops and plan to eventually expand. After meeting with their lawyers and accountants, they realize they need to change their business structure to either a corporation or a limited liability company. They understand that both have limited personal liability. Using the information in your text regarding the advantages and disadvantages of each, make a recommendation as to which you would recommend to the Smiths. Provide at least three reasons for your recommendation. Be prepared to defend your point of view.The factor is the financial resources needed to start and expand a business. Decide whether this factor is a cost or benefit to a sole proprietor, a partnership and a corporation, and give a brief explanation for your answer. Sole proprietor: Partnership: Corporation:
- A partnership firm doesn’t have the legal existence as a separate legal entity. Explain the statement with a comparative analysis with LLP firms.describe the advantages of an LLC versus operating as a sole proprietorship, general partnership, limited partnership, C Corporation, and S Corporation.Which of the following types of business entities involves the least amount of time and money to establish? a) Corporation b) Conglomerate c) Partnership d) Sole Proprietorship
- In which firm the agreement is Oral or Written? A. Partnership B. Sole Proprietorship C. HUF D. Co-operative SocietyEvery 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?The management’s decision to make a partnership with another company is called:
