Delany and Efron want to form a limited partnership to do general business bookkeeping with an emphasis on tax accounting. In most states, a limited partnership will be created when Delaney and Efron
A) file a certificate of limited partnership.
B) execute a partnership agreement.
C) accept their first client.
D) make their capital contributions.

Question

Delany and Efron want to form a limited partnership to do general business bookkeeping with an emphasis on tax accounting. In most states, a limited partnership will be created when Delaney and Efron
A) ​file a certificate of limited partnership.
B) ​execute a partnership agreement.
C) ​accept their first client.
D) ​make their capital contributions.

Quizplus · Accepted Answer

In most states, a limited partnership is created when the partners file a certificate of limited partnership with the state. This certificate typically includes information such as the names of the partners, the name of the partnership, and the partnership's address. It is a necessary step in forming a limited partnership.

Delany and Efron Want to Form a Limited Partnership to Do