What is a limited partnership?
What will be an ideal response?
Answer: A limited partnership has at least one general partner plus other limited partners who invest in the company but do not have any say in the management of the company or any liability in the company.
Explanation: A limited partnership has one or more general partners plus other, limited partners who contribute only an investment but do not have any management responsibility or liability. That is, limited partners have limited liability, which is based on the amount they have invested in the company.
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Develop a scenario where a passive voice would be appropriate to use, identifying reasons for using the passive voice
What will be an ideal response?
How should an entrepreneur approach experimentation?
a. invest high levels of time and resources to strictly adhere to the scientific method b. use quick, low cost methods of experimentation informed by scientific thinking c. focus on asking lots of questions and ignore the scientific method d. rely upon historical data rather than collecting experimental data
After the formation of a limited partnership, the admission of additional general partners can only be accomplished with the written consent of all partners
Indicate whether the statement is true or false
Purposes of managing liquidity include all of the following except
A) determining how to keep the majority of your assets in liquid form. B) having enough liquid assets to cover cash shortages. C) maintaining adequate liquidity to avoid borrowing every time you need money. D) maintaining just enough liquid assets to meet your needs.