In a partnership, the type of partner that is responsible for all claims against the company is called a(n) ________
A) investor
B) general partner
C) unlimited partner
D) limited partner
E) sole partner
B
Explanation: B) In a partnership business structure, general partners have unlimited liability. Limited partners are responsible only up to the amount of funds they have invested in the company.
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Which of the following best describes a company's financing activities?
a. Financing activities focus on the sale of products and services. b. Financing activities include selling products. c. Financing activities enable a company to acquire assets needed to run a business. d. Financing activities are represented by the revenues and expenses on the income statement.
Explain with an example how attitude specificity affects attitude-behavior correspondence.
What will be an ideal response?
In which of the following ways has the Financial Executives Institute (FEI) become involved in the accounting standard-setting process?
a. By funding research projects in accounting and related areas b. By reviewing FASB discussion memorandums and exposure drafts and communicating an official position to FASB. c. By participating in FASB public hearings d. All of the above
Amelia believes that the way business in conducted in her country is the only proper way to conduct business. Her attitude is ______.
A. organizational culture B. group bias C. ethnocentric D. biculturalism