Which of the following is true of general and limited partners in a limited partnership?
A. Limited partners are exempt from annual capital investment and need only participate in management functions.
B. General partners are not personally liable for partnership debts.
C. General partners are required to invest capital and refrain from managerial activities.
D. Limited partners are not personally liable for partnership debts beyond their capital contributions.
Answer: D
You might also like to view...
Garrett has just purchased a beer distributorship. He wants to increase the visibility of his firm in local markets, but he knows there are a number of regulations and socially accepted practices associated with promoting alcoholic beverages. The first thing Garrett should do is to
A. choose a course of action. B. identify issues that need to be addressed. C. brainstorm alternatives. D. gather information and identify stakeholders. E. promote the firm's corporate social responsibility efforts.
Product adoption is the process by which a consumer or business customer begins to buy and use a new good, service, or idea.
Answer the following statement true (T) or false (F)
Palette Paints, Inc expends funds and takes steps to ensure that all employees are safe on the job, that all products are safe for consumers, and that the environmental impact of the corporation is minimal. Palette Paints appears to believe in the concept of A) the moral minimum
B) corporate social responsibility. C) the categorical imperative. D) utilitarianism.
All of the following are business products except
A. color televisions in the electronics department of a large retail store. B. iron ore in a steel plant. C. small hand tools in an automobile repair shop. D. toner cartridges in the supply closet of a word processing center. E. a new appliance in someone's home.