This topic contains a solution. Click here to go to the answer

Author Question: A limited partnership is different from a limited liability partnership in that, in a limited ... (Read 91 times)

EY67

  • Hero Member
  • *****
  • Posts: 531
A limited partnership is different from a limited liability partnership in that, in a limited partnership:
 A) all members have limited liability.
  B) only the members with unlimited liability are allowed to manage the firm.
  C) only the members who have the protection of limited liability actively participate in the management of the firm.
  D) all members actively participate in the management of the firm.

Question 2

B&G, Inc
 
  A year ago, Kevin went to work for B&G, Inc He has worked for the finance department ever since he started. He noticed that the corporation was only taxed as though it were a partnership. This was something that he found very odd when he first started working for the company, but he later realized it was a fairly common practice. He recognized that this was one of the advantages of this type of corporation.
 
  While the job was challenging, Kevin was not happy. He wanted to work for a company whose main goal was to provide service to the community, not to make a profit. However, Kevin felt that, considering his present financial situation, he had to continue working for B&G, Inc A week later, Kevin discovered there was going to be a merger between B&G, Inc and one of its major competitors. Kevin's boss informed him that he would be getting a promotion and a raise. While he was excited about making more money, he still was not happy. He knew then that he would not be working for the company for long.
 
  Refer to B&G, Inc What type of organization is B&G, Inc?
 A) Sole proprietorship
  B) Limited-liability company
  C) S-corporation
  D) Not-for-profit corporation
  E) Cooperative



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

B

Answer to Question 2

C




EY67

  • Member
  • Posts: 531
Reply 2 on: Jul 14, 2018
Thanks for the timely response, appreciate it


kjohnson

  • Member
  • Posts: 330
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

For a complete list of videos, visit our video library