How does the owner's liability to losses differ in a general partnership and a limited partnership?

Answers

Answer 1

Answer:

A limited partnership is a type of partnership that consists of at least one general partner and at least one limited partner. A limited liability partnership does not have a general partner, since every partner in an LLP is given the ability to take part in the management of the company.

history of Limited Partnerships and LLPs

Limited partnerships were popular during the 1970s and 1980s. Today, many business owners form limited partnerships for films and other projects that will last for a short period of time. Limited liability partnerships are relatively new in comparison to limited partnerships. LLPs became popular in the 1990s, around the same time that limited liability companies became a popular formation choice among business owners.

Structure of Limited Partnerships and LLPs

In a limited partnership, the general partner is responsible for managing the company's day-to-day activities. The limited partner in a limited partnership does not participate in making managerial decisions for the business. In a limited partnership, the limited partner is more like a silent partner that has invested in the company. In a limited liability partnership, all partners of the company are allowed to make management decisions for the company.

In addition, general partners of a limited partnership may be limited liability companies or corporations, whereas LLCs and corporations may not be partners in an LLP.

Liability Protection Differences

If you're operating as a limited partnership, the general partner has unlimited liability for company losses and debts, while a limited partner has limited liability protection against company debts and losses. This means the general partner may lose his home and other personal assets because of losses and obligations that occur as a result of operating the business. Limited partners have personal asset protection against company obligations and debts.

In an LLP, all partners have limited liability protection against company obligations and debts. In addition, partners in an LLP have limited liability protection against malpractice suits that stem from another partner's negligent acts.

Explanation:

Answer 2

Answer:

If you're operating as a limited partnership, the general partner has unlimited liability for company losses and debts, while a limited partner has limited liability protection against company debts and losses.

Explanation:

bc yes


Related Questions

list at least four things that indicate how political science effects our daily lives​

Answers

Answer:

It studies citizen´s access to social benefits. The chances of having governmental policies aimed to aid the progress of the poor are dependant on what type of interests the government defends.Politics also establish different levels of economic development in a country, which affects everyone´s economy. Politics are very influential in the daily lives of women and people of color because their rights depend on governmental policies that are not present in every type of government. Politics even shape how our cities are constructed and organized, affecting us every time we take public transportation, or use public services.

Explanation:

Political science examines power, meaning the interests and actions of governmental and political institutions, as well as their effect on society.

major features of formal, on formal, and informal curriculum​

Answers

Answer:

FORMAL FEATURES

It is planned and deliberate.

Scheduled fees are paid regularly.

It has a chronological grading system.

It has a syllabus and subject-oriented. ...

The child is taught by the teachers.

INFORMAL FEATURES

Informal learning is never organized. ...

Informal learners are often highly motivated to learn. ...

Informal learning is often spontaneous. ...

There is no formal curriculum. ...

The “teacher” is someone who cares – and who has more experience than the learner.

Explanation:

why is it important to understand how the US government works ?​

Answers

Answer:

It is important to understand how the government works because we can help solve problems, and helps you target where your voice can try to make a difference. Citizens were the ones who shaped put government and it's policies. (Not Sure if this helps but this is what I think)

3. Why do we see more kids from poor neighborhoods go to prison compared to kids from more privileged neighborhoods and upbringings? Explain your reasons and use evidence from the video.

Answers

Explanation:

because rich kids have money to bribe the government or anyone but poor kids cannot and fall in the trap of rich people. rich kids parents can cover any bd things due to their power and money which is not available to the poor kids

After the Civil War ended, how was the North affected economically?
The agricultural economy suffered and declined.
Industry thrived and the economy soon recovered.
The rise in inflation bankrupted many businesses.
Economic uncertainty caused businesses to fail. It’s is b

Answers

Answer:

B

Explanation:

Edge2020

Which taxes in Georgia could be treated differently in other states?
A. Income tax and property tax
B. Sales tax and income tax
C. Property tax and sale tax
D. Income tax and corporate tax

Answers

Answer:

c. property tax and sale tax

Explanation:

Answer:

C.

Explanation:

3dg3nuity >.<

HURRY PLZ HELP NOW!!!!!!!!!

Economic sectors are determined based on what criteria? A. How important a job is to human survival. B. How closely a job is related to natural resources. C. How important a job is to a country’s GDP. D. How closely a job is related to the center of a city. Please select the best answer from the choices provided A B C D

Answers

Answer:

Economic sectors are determined based on how closely the activities that are part of each sector are to natural resources.

Explanation:

Answer:

d?

Explanation:

The black market is most active in a __________ economy.
A.
social
B.
market
C.
traditional
D.
command


Please select the best answer from the choices provided

A
B
C
D

Answers

Answer:

I'm pretty sure it's D

Explanation:

I believe its A: social economy

Which empire rose to power in Mesopotamia after the Assyrian Empire?

Answers

Answer:

The Neo-Babylonian Empire

Explanation:

After the fell of the Assyrian empire, the Rulers who previously resided on the southern Mesopotamia during the reign of the old king started to make their conquest over to the Ancient Near East region.

As their influence grew, they accumulated the support from the local leaders and eventually managed to gain enough wealth and power to form a new empire.

Compared to the Assyrian empire, The Neo-Babylonian empire was known to be more progressive. This period was marked with massive advancement in technology, art, culture, and economic development.

Who held power in Sumeria?
a. the people
b. the merchants
c. the kings
d. the priests

Answers

Answer:

d. the priests

Explanation:

d. the priests is the correct answer

why do the people of remote area lack health service and facilities?​

Answers

Answer:

lack of hospital and lack of development

Europe has a challenging geography which makes it difficult to grow crops

Answers

Answer:

true

Explanation:

hope this helped ^^

10. a. Who built the world's first empire, and what did that empire
include?

Answers

Sargon's empire included the Sumerian cities of the Tigris-Euphrates Delta in Mesopotamia. Mesopotamia consists of modern-day Iraq, Kuwait, northeast Syria, and southeast Turkey. After taking control of these, Sargon went through modern-day Syria to the Taurus Mountains near Cyprus

Which statement best describes the Loyalists?
A.
They were immune from paying taxes under the British government.
B.
They believed independence would create more economic opportunities.
C.
They trusted the British government to protect their rights.
D.
They believed all conflicts should be settled peacefully.
E.
They were often imprisoned for defying the British government.

Answers

Answer:c

Explanation:

Select the correct answer.
According to Erik Erikson's psychosocial theory of personality, in which phase of life do people go through the psychosocial stage of "intimacy
versus isolation"?
ОА. .
adulthood
OB.
middle adulthood
Ос.
late adulthood
D
adolescence

Answers

Answer:

А. adulthood

Explanation:

"Intimacy vs. Isolation" is common in the young adults (adulthood). This age ranges from 20s until the early 40s. It is very important for a person to develop a positive self-concept in order not to feel isolated when it comes to his/her emotions. This makes choice A correct.

"Middle adulthood" is under "Generativity vs. Stagnation" stage, so this makes choice B incorrect.

"Late adulthood" is under "Integrity vs. Despair" stage, so this makes choice C incorrect.

"Adolescence" is under "Identity vs. Role Confusion" stage, so this makes choice D incorrect.

Answer:

Adulthood

Explanation:

who was the original writer of the declaration of independence

Answers

Answer:

Explanation:Written in June 1776, Thomas Jefferson's draft of the Declaration of Independence, included eighty-six changes made later by John Adams (1735–1826), Benjamin Franklin 1706–1790), other members of the committee appointed to draft the document, and by Congress.

Answer:

Benjamin Franklin was the one I didn't even know but I learned something

what is similar about the Algonquian tribe and the Anasazi tribe????

Answers

Answer:

The Algonquian tribe and the Anasazi tribe

Explanation:

Both tribes engage in farming. The Algonquian tribe were inhabitants of the Eastern Ontario and southern Quebec region. They lived on fishing and hunting, along with cultivating beans, corn and squash. They moved from one place to another in search of the food supply. Villages were temporary and mobile.

The Anasazi people solely engaged in cultivating crops with building irrigation for their crops and houses for their living. They were ancestral Pueblo people lived in southwest Colorado and New Mexico.

Answer:

both tribes built big houses that could fit an entire village

Explanation:

Skills needed in the American job market are shifting due to the growth of __________.

A.
the US government
B.
the US Postal Service
C.
the 24-hour news cycle
D.
Internet technology

Answers

Answer:

d

Explanation:

dfhhjkhghddhjkidgjjktifftjj

Answer:

D

Explanation:

In my opinion.........

Which continent is the flattest of them all? 30°S, 135°E
Australia
2. Only one country has a name that starts with O. Which country? 20°S, 60°E
Omen
3. Which country contains the most pyramids? 15°N, 30°E
Sudan
4. Which country has the unicorn as its official animal? 55°N,
Scotland
5. What is the biggest country without a single river in it?
Saudi Arabia
6. Where is the oldest active volcanoon Earth? 40°N, 15°E
Amazing Animals
See where you can find cool animals around the world. Where can you
Find. . .

1. Axolotl?
20°N, 105°W

2. Markhors?
30°N, 70°E

3. Red Pandas?

30°N, 105°E

4. Narwhals?
75°N, 0°

5. Okapis?
0°, 20°E

6. Banana Slugs?
40°N, 120°W

Answers

Answer:Gonna say 5? enjoy your day! and hope it helped!

Explanation:

which of these groups could vote in the first u.s. selection?​

Answers

Answer:

n group (neither).............................

what sumerian invention helped contribute to modern forms of transportation
a. city streets
b. the wheel
c. the plow

Answers

Answer: c. the plow

Explanation:

Around 3100 BC, the Sumerians invented the plow. It is a device that has led to huge progress, primarily in agriculture. In addition to the mentioned function, the plow is also efficient when moving heavy objects. The Sumerians invented several types of plows, but they all had the same purpose. Along with various antique plows, a manual was made that made it easier for users to use.

A marital couple in which one spouse belongs to a given
racial-ethnic group and the other spouse belongs to a
different racial-ethnic group:
Select one:
a. mixed marriage
b. open marriage
O
c. endogamous marriage
d. multicultural marriage

Answers

Answer:

a

Explanation:

How many of the following numbers of relations are possible in a nuclear family?
11
9
8
7

Answers

a nuclear family can be at least 7

After Carlos had been asleep for about an hour and a half,his heart began to beat faster,his breathing became fast and irregular,and his closed eyes began to dart back and forth.Carlos was most likely experiencing:__________.
A) NREM-3 sleep.
B) sleep apnea.
C) narcolepsy.
D) REM sleep.

Answers

Oooooooooooooooooooooooof

Delaware Colony was once the lower county of

Answers

Answer:

Was once the lower county of Delaware

Explanation:

Answer:

Pennsylvania

Hope it helps :)

In a factor market, firms deliver payments in all of the following forms EXCEPT:
A. rent
B. profit
C. loans
D. wages
Please select the best answer from the choices provided
Ο Α.
ОВ
ОС
OD

Answers

Answer:

its c

Explanation:i just took the quiz

Answer:

c

Explanation:

how did you resolve the quarrel/argument/fight?​

Answers

Answer:

With an apology.

Explanation:

By saying sorry and issuing and apology.

These group of people were great seafarers, who spread their culture.

Answers

Answer:

Minoans

a seafaring and trading people that lived on the island of Crete from about 2000 to 1400 BC

Explanation:

brailist

UNESCO has enlisted________and____________of Nepal in World Heritage Sites.​

Answers

Answer:

UNESCO has enlisted Chitwan National Park and Sagarmatha National Park of Nepal in World Heritage Sites.​

Explanation:

Chitwan National Park is actually the first one of that kind in this country.  It is only the UNESCO's list since 1984 and it covers a large area of almost 1 000 km squares.

Sagarmatha National Park is another park in this country that was on the UNESCO's list since 1979. It covers a larger area than the previous one and includes even the Mount Everest peak.

finish this: i love it when girls

Answers

Answer:

dance with me

Explanation:

Answer:

i love it when girls ask to smash and pull out their Nintendo Switch.

Now that's a good human

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