Which of the following is FALSE?
A) General partnerships are not legally required to have a written partnership agreement.
B) A general partnership legally ends when a partner sells his or her ownership in the company or dies.
C) A partnership ends if a limited partner sells his or her ownership or dies.
D) A limited partner cannot take an active role in the daily management of the company.
Correct Answer:
Verified
Q20: Proprietorships are the most common form of
Q21: Disadvantages of proprietorships include
A) unlimited liability.
B) the
Q22: The biggest disadvantage of a sole proprietorship
Q23: There are two common forms of partnerships-
A)
Q24: General partners
A) have unlimited liability.
B) are liable
Q26: In limited partnerships
A) the limited partners have
Q27: In a limited partnership
A) a limited partner
Q28: Of the following, the least common form
Q29: A certificate of limited partnership is filed
Q30: Before forming a partnership, the partners should
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