p 125 Anand has been asked to join a new partnership that is developing wind

P 125 anand has been asked to join a new partnership

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35.(p. 125)Anand has been asked to join a new partnership that is developing wind energy technologies. Because the business is high risk, he does not want to be liable for the firm's debts if the project should fail. He could still participate as a A. general partner.B.limited partner.C. silent partner.D. working partner.E. contributor.A limited partner's liability is limited to his or her initial investment in the business. Limited partnerships are most often used for risky investments where the chance for loss is great. AACSB: Reflective Thinking Bloom's: Comprehension Difficulty: Medium Learning Objective: 04-02 Identify two types of partnership; and evaluate the advantages and disadvantages of the partnership form of organization. Topic: Partnerships 36.(p. 124)Which form of business organization is the least used in the U.S.? AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Learning Objective: 04-02 Identify two types of partnership; and evaluate the advantages and disadvantages of the partnership form of organization. Topic: Partnerships 4-36
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Chapter 04 - Options for Organizing Business 37.(p. 126)The legal documents that identify the basic agreements between partners are called AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Learning Objective: 04-02 Identify two types of partnership; and evaluate the advantages and disadvantages of the partnership form of organization. Topic: Partnerships 38.(p. 126)Articles of partnership are required by many states for businesses that have two or more co-owners. The issues covered usually include all of the following except AACSB: Reflective Thinking Bloom's: Comprehension Difficulty: Medium Learning Objective: 04-02 Identify two types of partnership; and evaluate the advantages and disadvantages of the partnership form of organization.
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