Business, 18.04.2020 02:20 morrowdrew

Justin and Michael form a limited partnership and start a car dealership. Justin is the general partner and Michael is the limited partner. Seven months after the commencement of the business, Pedro makes an investment and wishes to become a general partner. A week later, Michaels mother wishes to join the partnership as a limited partner.
1. Which of the following is true in this scenario?
O Pedro cannot be a general or limited partner
O Pedro cannot be admitted as a general partner to the partnership as a limited partnership can only have one general partner.
O Michael's mother cannot be admitted as a limited partner to the partnership as a limited partnership can only have one limited
partner.
O Both Pedro and Michael's mother can choose to be admitted as either general or limited partners to the partnership.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 09:30

Any point on a country's production possibilities frontier represents a combination of two goods that an economy:

Answers: 3

Answer

Business, 22.06.2019 12:50

You own 2,200 shares of deltona hardware. the company has stated that it plans on issuing a dividend of $0.42 a share at the end of this year and then issuing a final liquidating dividend of $2.90 a share at the end of next year. your required rate of return on this security is 16 percent. ignoring taxes, what is the value of one share of this stock to you today?

Answers: 1

Answer

Business, 22.06.2019 20:00

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation

Answers: 2

Answer

Business, 22.06.2019 23:20

Suppose you manage an upscale restaurant in new york city. would involve writing employee schedules and a list of things to do for the chef and other kitchen staff

Answers: 3

Answer

You know the right answer?

Justin and Michael form a limited partnership and start a car dealership. Justin is the general part...

Questions

Business, 20.02.2020 00:45

Norah, who gives music lessons, is a calendar-year taxpayer using the cash-basis method of accounting. On October 1 of this year, she received $1,200...