A general partnership is a voluntary partnership in which all partners can take an active role in managing the business and have unlimited liability for any claims against the firm.
Correct Answer:
Verified
Q20: Sole proprietorships generally have a distinct advantage
Q21: Owners of corporations are known as stockholders.
Q22: In C corporations, the board of directors
Q23: Corporations can operate under a corporate charter
Q24: Limited partnerships and limited liability partnerships are
Q26: A limited partnership is an agreement between
Q27: A limited partnership allows one partner to
Q28: A major advantage of limited liability partnerships
Q29: Examples of institutional investors are mutual funds,
Q30: A general partnership cannot be formed on
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents