Limited partners must have
A) less than 50 percent ownership.
B) less than 50 percent control of daily operations.
C) less than 50 percent responsibility for debts.
D) no control of daily operations.
Correct Answer:
Verified
Q8: A corporation's legal status
A) ends on the
Q9: On dissolution,a partnership requires
A) partners to share
Q10: Agency can be used in
A) partnerships.
B) corporations.
C)
Q11: Liquidation is the process of
A) reducing assets
Q12: A de jure corporation has made
A) good
Q14: Inherent authority allows the agent to exceed
Q15: An agency occurs when one person
A) has
Q16: A business that ends automatically with a
Q17: Sole proprietorships can be
A) sold.
B) inherited.
C) granted
Q18: A sole proprietorship is a business owned
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