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Questions and Answers
What is the primary difference between a general partner and a limited partner in a limited partnership?
What is the primary difference between a general partner and a limited partner in a limited partnership?
- The general partner has limited liability.
- The limited partner has no management role. (correct)
- The limited partner is not responsible for the firm's debts.
- The general partner is not responsible for the firm's management.
What is a characteristic of a co-partnery?
What is a characteristic of a co-partnery?
- The firm has a public existence.
- The firm has a legal entity.
- The firm exists only between partners. (correct)
- The firm is required to register with the government.
What is the primary liability characteristic of partners in an Unlimited Partnership?
What is the primary liability characteristic of partners in an Unlimited Partnership?
- No personal liability for partnership debts
- Unlimited liability severally and jointly (correct)
- Joint liability only for partnership debts
- Limited liability to the extent of their contribution
What is the minimum amount required to be deposited in a Lebanese local bank for a Joint Stock Company?
What is the minimum amount required to be deposited in a Lebanese local bank for a Joint Stock Company?
What is the primary role of a limited partner in a limited partnership?
What is the primary role of a limited partner in a limited partnership?
What is a key requirement for transferring partnership interests in an Unlimited Partnership?
What is a key requirement for transferring partnership interests in an Unlimited Partnership?
What is a characteristic of a Joint Stock Company?
What is a characteristic of a Joint Stock Company?
What is the primary characteristic of a partner's role in an Unlimited Partnership?
What is the primary characteristic of a partner's role in an Unlimited Partnership?
What is the minimum capital requirement for registering an Unlimited Partnership?
What is the minimum capital requirement for registering an Unlimited Partnership?
What is the difference between a limited partnership and a co-partnery?
What is the difference between a limited partnership and a co-partnery?
Where must an Unlimited Partnership be registered?
Where must an Unlimited Partnership be registered?
What is a crucial aspect of the partnership headquarters' information to be registered?
What is a crucial aspect of the partnership headquarters' information to be registered?
Which of the following is NOT a general reason for company dissolution?
Which of the following is NOT a general reason for company dissolution?
What is the characteristic that distinguishes a limited partnership from an unlimited partnership?
What is the characteristic that distinguishes a limited partnership from an unlimited partnership?
What is a specific reason for partnership dissolution?
What is a specific reason for partnership dissolution?
What is a necessary qualification for a partner?
What is a necessary qualification for a partner?
What is a unique feature of an unlimited partnership's name?
What is a unique feature of an unlimited partnership's name?
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