Explain the difference between a general partner and a limited partner?

Q: limited partnershi

A: Art. 1843. A limited partnership is one formed by two or more persons under the provisions of the…

Q: Suppose A, B, and C are not really partners, but A told X that A, B, and C are partners. X,…

A: A partnership is a form of business organization under which two or more than two person joins…

Q: How does new partners are admitted to the partnership?

A: Partnership is an agreement between two or more persons who joins their capitals, start business…

Q: What is partnership? What are its chief characteristics? Explain.

A: Partnership is an agreement of at least two persons to run a business and share the profit and loss…

Q: briefly explain the concept of Partnership, Formation, Duties, Liabilities and Dissolution

A: PARTNERSHIP A partnership is a kind of business wherever a proper agreement between 2 or additional…

Q: What is the admission of a new partner to an existing partnership?

A: Partnership is one of the form of business organisation, under which two or more than two persons…

Q: What will be the effects of Partnership Allocations and Substantial Economic?

A: Substantial Economic Effect The partnership allocation might not be fulfilled and complete if the…

Q: partnership has a juridical personality separate but not distinct from that of the partners. O True…

A: Introduction:- A partnership is formal agreement between two or more people carrying out a business…

Q: Explain the contract liability of a partnership and the partners.

A: In general, the liability that a partner assumes on behalf of another in a partnership is termed as…

Q: What is a partnership agreement? What types of provisions does it include?

A: Partnership means where two or more person comes together to do some common business activity and…

Q: the basis of a partners partnership interest is increased by what items

A: Partnership:   It is a form of business where two or more people form a business under an agreement…

Q: How does a limited partnership differ from a general partnership?

A: Partnership: The form of business entity which is formed by an agreement, owned and managed mutually…

Q: What are the steps to be followed in incorporating a partnership?

A: A collective entity of partners is called Partnership.

Q: Under the entity theory, a partnership is O A. Viewed through the eyes of the partners B. Viewed as…

A: Solution: Under the entity theory, a partnership is "viewed as having its own existance apart from…

Q: Determine whether each characteristic describes a general partnership (GP), limited liability…

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Q: Discuss the characteristics of the partnership according to its' definition.

A: Partnership is a business organisation which is created by two or more persons to carried out a…

Q: indicate why you would or would not want to be involved in a Limited Partnership investment

A: A limited partnership (LP), as opposed to a limited partnership (LLP), is a partnership formed by…

Q: hat are the differences between basis period use for the company purpose and for the individual/…

A: Answer: Basis period is the period that is selected for taxable period and for easy identification…

Q: Explain why it is considered better to make a partnership agreement in writing.

A: Partnership agreement: Partnership agreement is a written agreement that contains numerous…

Q: How can the general partner–syndicator structure the partnership to offer incentives to limited…

A: There are various forms of partnership firm & limited liability is one such type. In this form…

Q: Under what circumstance might goodwill be allocated to a new partner entering a partnership?

A: Partnership: This is the form of business entity that is formed by an agreement, owned and managed…

Q: , enumerate and briefly discuss the following: • 3 Types of Organizations According to Ownership •…

A: A partnership is an agreement between two or more persons called partners who agree to share the…

Q: Compare and contrast the two types of partnership.

A: Partnership is having a joint ownership over a business. There are broadly two types of…

Q: A limited partnership is formed once two individuals agree to be limited partners.

A: A partnership is a form of business that agrees to carry a business and share the profits according…

Q: How does the risk associated with investment in a partnership differ for the general partner versus…

A: A partnership is a form of business where two or more persons are agreed to work together for a…

Q: If a partner is contributing attributes to a partnership such as an established clientele or a…

A:

Q: Determine whether each characteristic describes a general partnership (GP), limited liability…

A: partnership: The partnership can be defined as a business arrangement where interested business…

Q: What is limited partnership?

A: Limited Partnership is a partnership where liability of the partners is limited to the amount of…

Q: What provisions in a partnership agreement can be used to establish an equitable allocation of…

A: Partnership: A partnership is an unincorporated form of business which is formed by an agreement,…

Q: the benefits and detriments of being a general partner versus a limited partner of a limited…

A: The partnership comes into existence when two or more persons agree to do the business and share…

Q: Determine whether each characteristic describes a general partnership (GP), limited liability…

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Q: Blue and Grey are discussing how income and losses should be divided in a partnership they plan to…

A: Partnership A partnership is an arrangement between 2 or more people to administrate business…

Q: What is a Public-private partnership? How would you account for that?

A: The question is based on the concept of Accounting Theory.

Q: Why is it regarded advantageous to have a written partnership agreement

A: "partnership" refers to when two or more persons decide to operate together as partners in any…

Q: Discuss the notion of a partner acting as the partnership's agent.

A: This question explains about the notion of a partner acting as the partnership's agent.

Q: Keeping the partnership assets and liabilities separated from the personal assets and liabilities of…

A: Assets are company-owned resources (tangible and intangible) that can bring future economic…

Q: State and explain the principal characteristics of a partnership

A: Partnership is a form or organization under which two or more than two person joins together to run…

Q: What is a Partnership ? Explain different types of partnership?

A: A partnership is a type of business in which two or more persons sign a legal agreement to be…

Q: What elements strengthen the basis of a partner's partnership interest?

A: Answer: Partnership firm is the association of two or more persons on agreement of partnership deed.

Q: Explain what the problem is with being a general partner in a partnership.

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What are some of the advantages and disadvantages of forming a partnership?

A: Partnership is defined as an arrangement, which is between the two or more people for overseeing the…