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What is a partnership's primary flaw, as a legal structure for conducting business?


1.
The owners have unlimited liability, in that personal wealth can be taken to satisfy debts.

2.
The owners lack secrecy because regulations require firms to disclose financial results.

3.
The owners, who are limited partners, have limited liability and cannot lose more than they invested.

4.
The owners, who are general partners, have unlimited liability and may have to cover the debts.

Answers

Answer 1

Answer:

4

Explanation:

The primary flaw of partnership as a legal structure for conducting business is that the owners who are general partners have unlimited liability and may have to cover the debts. This means that the personal assets of the general partners can be seized to pay off any debts or legal obligations of the partnership, even if it exceeds the amount of money that they invested in the business. This can put the general partners at significant financial risk and make it difficult to attract new partners to the business.

Related Questions

Why is it important to balance a ledger account?

Answers

Answer:

balancing a ledger account is a crucial step in maintaining accurate financial records and ensuring that financial statements are reliable and trustworthy.

Explanation:

It serves as a check to ensure that for every transaction, a debit recorded in one ledger account has been matched with a credit in another. If the double entry has been carried out, the total of the debit balances should always equal the total of the credit balances.

Given the interest rate of 10%, if the initial investment is 200,000 and the amount of annual investment is 30,000 to be made forever, what is the capitalized cost?

Answer Choices:

a. 230,000

b. 170,000

c. 300,000

d. 500,000

Answers

Answer:

200000×10×30000÷100

Explanation:

answer 600000000

North American Dental Group recently hired Keith Carrington as its chief compliance and privacy officer. One thing that Carrington may be responsible for is creating a _____, which would outline policies for acceptable and ethical behavior.

Answers

A Code of Conduct, which establishes guidelines for proper and moral conduct, establishes the tone for the workplace culture, and instructs employees on how to conduct themselves with integrity, may be developed by Carrington.

Who is in charge of developing a code of conduct?

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The Board's Nomination and Compensation Committee would be designated as the Ethics Committee and be in charge of creating the conditions that will encourage Directors to embrace the Code of Conduct and ensuring that it is effectively followed.

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Answers

Answer:You can just be like"Hey can I talk to you for a minute" and then you guys sit down and just be like "Umm I wan to tell you this for a lo ng time now but I see you have a father figure"

Explanation:

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Answers

He did, Sappy had a very minuscule lam.
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Emmanuel and Camille are married, file jointly, and have two children, ages three and seven, whom they support. Their AGI is $28,470.
Click here to access Exhibit 13.2 Earned Income Credit and Phaseout Percentages.
Carry out computations to two decimal places, and round your final answer to the nearest dollar.

Enter the amount of Emmanuel and Camille's earned income credit:

Answers

Emmanuel and Camille's earned income credit is $11,388.

Based on the information provided, we need to refer to Exhibit 13.2 to determine the Earned Income Credit (EIC) and phaseout percentage.

For married filing jointly taxpayers with two children and an AGI of $28,470, the EIC percentage is 40.0%, with a maximum credit of $5,716.

To calculate the EIC, we first need to determine Emmanuel and Camille's earned income.

If we assume that all of their income is from wages, then their earned income would be equal to their AGI of $28,470.

Next, we can calculate their EIC as follows:

EIC = earned income x EIC percentage

= $28,470 x 40.0%

= $11,388

The total earned income credit for Emmanuel and Camille is thus $11,388.

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How is marine insurance different from automobile insurance?

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Ability to suspend coverage, “Agreed value” and Navigational limits

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Answers

The reasons why some counties are rich and others are poor are complex and multifaceted. However, some factors that may contribute to a county's level of wealth include natural resources, access to education and infrastructure, political stability, economic policies, and historical legacies. Additionally, global economic trends and international trade can also have a significant impact on a county's economic situation.

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Answers

The transformation process in a bank involves converting inputs into outputs. The inputs could be customer deposits, loan applications, and requests for other banking services. The transformation process would then involve various activities such as processing transactions, analyzing loan applications, and generating reports for internal and external stakeholders.

Buford sells an apartment building for $720,000. His adjusted basis is $500,000 for regular income tax purposes and $550,000 for AMT purposes.

a. Buford's recognized gain for regular income tax purposes is
b. Buford's recognized gain for AMT purposes is
c. Buford's AMT adjustment is and its value is

Answers

For normal income tax purposes, Buford has a gain that is valued at $220,000 ($720,000 - $500,000). ($720,000 - $550,000) Buford's recognised gain for AMT purposes is $170,000.

What serves as the stock's foundation when it is traded for property?

The adjusted basis of the property you transferred to the corporation, increased by: Any gain realised by you, is the basis of the shares you get in exchange for that property.

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How spaceX occupies Mars? what are their plans and strategies? ​

Answers

please make me brainalist and keep smiling dude I hope you will

please make me brainalist and keep smiling dude I hope you willTogether the Starship spacecraft and Super Heavy rocket create a reusable transportation system capable of on orbit refueling and leveraging Mars' natural H2O and CO2 resources to refuel on the surface of Mars. Starship launches with Starship Super Heavy booster. Booster separates, returning to Earth.

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Answers

President Ferdinand "Bongbong" Marcos Jr.'s economic team unveiled his administration's eight-point economic program on Monday.

What exactly did Bongbong Marcos do?

From 1992 until 1995, Marcos served as the Representative of Ilocos Norte's 2nd congressional district. In 1998, he was re-elected Governor of Ilocos Norte. He returned to his old post as Congressman from 2007 to 2010, then as Senator for the Nacionalista Party from 2010 to 2016.

Marcos, who governed by decree after that, restricted press freedom and other civil freedoms, disbanded Congress, controlled media outlets, and ordered the imprisonment of opposition leaders and militant activists, including his staunchest adversaries, Senators Benigno Aquino Jr. and Juan Ponce Enrile.

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