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Legal Environment 5th Edition by Jeffrey Beatty,Susan Samuelson
Edition 5ISBN: 978-1133587491Legal Environment 5th Edition by Jeffrey Beatty,Susan Samuelson
Edition 5ISBN: 978-1133587491 Exercise 1
CPA QUESTION Cobb, Inc., a partner in TLC Partnership, assigns its partnership interest to Bean, who is not made a partner. After the assignment, Bean asserts the right to (1) participate in the management of TLC and (2) take Cobb's share of TLC's partnership profits. Bean is correct as to which of these rights?
A) 1 only
B) 2 only
C) 1 and 2
D) Neither 1 nor 2
A) 1 only
B) 2 only
C) 1 and 2
D) Neither 1 nor 2
Explanation
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A LLP is a kind of general partnership a...
Legal Environment 5th Edition by Jeffrey Beatty,Susan Samuelson
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