This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain the advantages of being in a limited partnership rather than a general partnership. What ... (Read 85 times)

cookcarl

  • Hero Member
  • *****
  • Posts: 539
on: Jul 26, 2018
Explain the advantages of being in a limited partnership rather than a general partnership.
 
  What will be an ideal response?

Question 2

Explain what agency is and how agents are used in the engineering and construction industry.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jxjsniuniu

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jul 26, 2018
Answer to Question 1

The advantages of being a limited partnership rather than a general partnership are that in a limited partnership there is at least one general partner and one or multiple limited partners that mainly contribute cash or property but they do not influence how a firm is managed by the general partner(s). The limited partners are protected from liability but they still share in the profits of a firm.

Answer to Question 2

Agency is a fiduciary relationship between a principle and a person who will represent the principle and their interests. In the engineering and construction industry, agents are used by principles to manage projects and to make decisions on the behalf of owners.


cookcarl

  • Member
  • Posts: 539
Reply 2 on: Jul 26, 2018
Excellent

irishcancer18

  • Member
  • Posts: 310
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

General structure of an animal cell General structure of an animal cell
Mercury’s Orbit Explained by General Relativity Mercury’s Orbit Explained by General Relativity
Body Part, Method of Examination, and Equipment Used During the General Physical Examination Cont. Body Part, Method of Examination, and Equipment Used During the General Physical Examination Cont.
Write the equation in general form of the line passing through the point Write the equation in general form of the line passing through the point
General Effects of Hydrotherapy* Comparing Thermo-Hydrotherapy and Cryo-Hydrotherapy General Effects of Hydrotherapy* Comparing Thermo-Hydrotherapy and Cryo-Hydrotherapy
General Mathematics General Mathematics
Video: Secondary and tertiary levels of protein structure Animation

For a complete list of videos, visit our video library