Question 1 Sole Proprietorships General PartnershipsLimi No formalities Presumed

Question

Question 1 Sole Proprietorships General PartnershipsLimi No formalities Presumed 2. when 2 or more Ease of Formation Taxation Pass through 3. Election General Partners unlimited, Limited partners have limited Bonus External Liability Management&Control; Ful Equal right Financial interest can beFinancial interest transferred, no right to become partner Tranferabilit transferred, transferee becomes limited partner Death dissolves DBW dissolves common law, OUPA changes DBP of general partner dissolves Continuit Lifetime") The appropriate information for box 1 is 2 Save and Submit Chck Save and Submit to save and submit. click Save All Anvers to save allanauers Save All Answers

Explanation / Answer

1. Easy - Country and Name registration

2. Complex - File certificate of limited partership with prescribed fees

3. Pass through

4. Each general partner has Unlimited Personal Liability.

5. Financial Interest can be transferred, it dissolves when owner die or sell assets.

Bonus: Limited partners do not participate in day-to-day management. rights are decided as per partnership agreement.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.