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Rick and Sandy are limited partners in Total Profit Enterprises

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Question

Rick and Sandy are limited partners in Total Profit Enterprises, a limited partnership. To avoid personal liability for partnership obligations, they must not;a. acquire an interest in the firm.;b. contribute property to the firm.;c. engage in activities independent of the firm's business.;d. participate in the firm's management.;11. ManyBooks LLC is a limited liability company. Jane and Jean are its members. Like any other such LLCs, unless ManyBooks LLC chooses otherwise, the firm will be taxed as;a. a corporation.;b. a joint venture.;c. a partnership.;d. a sole proprietorship.;12. ABC, LLC's members include Chad. For purposes of suing and being sued, ABC, LLC is;a. an aggregate of Chad and the other members.;b. a natural person in the members' "family.;c. a legal entity apart from the owners.;d. a non-participating third party.

 

Paper#32832 | Written in 18-Jul-2015

Price : $27
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