Explain, with an example, the sharing of profits and losses in a limited partnership
What will be an ideal response?
A limited partnership agreement may specify how profits and losses from the limited partnership are to be allocated among the general and limited partners.
If there is no such agreement, the RULPA provides that profits and losses from a limited partnership are shared on the basis of the value of each partner's capital contribution.
Example: There are four general partners, each of whom contributes $50,000 in capital to the limited partnership, and four limited partners, each of whom contributes $200,000 capital. The total amount of contributed capital is $1 million. The limited partnership agreement does not stipulate how profits and losses are to be allocated. Assume that the limited partnership makes $3 million in profits. Under the RULPA, each general partner would receive $150,000 in profit, and each limited partner would receive $600,000 in profit.
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______________________________________ is a line item on the income statement to reflect any gain or loss from an event that is both unusual in nature and infrequent in occurrence
Fill in the blank(s) with correct word
Explain how in- and out-groups form.
What will be an ideal response?
Which statement about the communication process is most accurate?
A) The use of digital networks as a means to transmit messages is declining in today's workplace. B) Because the meanings of words are the same among people, participants in the communication process need not worry about their word selection or usage. C) Only senders are affected by their mood, frame of reference, background, or culture. D) Feedback helps the sender know that the message was received and understood.
What is the constraint for salt?
A) 6L + 8V ? 4800 B) 1L + 2V ? 4800 C) 3L + 2V ? 4800 D) 2L + 3V ? 4800