Explain the difference between a limited partnership and a limited liability limited partnership (LLLP).
What will be an ideal response?
The limited partnership, a variation of the ordinary or general partnership, was designed to combine the informalities of the partnership with the capital-raising advantages of the corporation. It permits investors (the limited partners) who do not engage in management to share in the profits of the business without becoming personally liable for its debts. Many states now offer a popular variation to the limited partnership. This organization, called a limited liability limited partnership (LLLP), has all the attributes of a limited partnership except that it offers limited liability to both its limited and general partners. In all other ways, the two organizations are the same.
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The entry to record the declaration of a cash dividend will
A) not affect working capital. B) reduce working capital. C) not affect total stockholders' equity. D) increase total stockholders' equity.
GASB requires which of the following (if applicable) to be included in the Notes to Financial Statements?
A. The definition of cash and cash equivalents used in the statement of cash flows for proprietary funds B. Outstanding encumbrances C. Interfund receivables and payables D. All of the choices are correct
How long do employers spend reviewing résumés?
A) An hour. B) 15 minutes. C) 30 minutes. D) 60 seconds.
How can expanding globally become a threat to a multinational enterprises (MNEs) reputation? Explain with the help of a real-world example.
What will be an ideal response?