Podcast
Questions and Answers
Which type of partner contributes cash and property to a partnership?
Which type of partner contributes cash and property to a partnership?
- Managing Partner
- Industrial Partner
- Limited Partner (correct)
- General Partner
What is the main characteristic of a Silent Partner?
What is the main characteristic of a Silent Partner?
- Participates in the management of the partnership affairs
- Actively manages the business
- Does not take active part in the management (correct)
- Conceals or hides their connection with the partnership
Which type of partner is known to the public as a partner of the business?
Which type of partner is known to the public as a partner of the business?
- Dormant Partner
- Ostensible Partner (correct)
- Secret Partner
- Limited Partner
A General Partner's liability extends to which property?
A General Partner's liability extends to which property?
What differentiates a Secret Partner from an Ostensible Partner?
What differentiates a Secret Partner from an Ostensible Partner?
What is a Corporation's advantage that allows it to have a wider source of capital?
What is a Corporation's advantage that allows it to have a wider source of capital?
What is the main advantage of a Sole Proprietorship?
What is the main advantage of a Sole Proprietorship?
What is a disadvantage of a Partnership?
What is a disadvantage of a Partnership?
What is the maximum number of individuals that can form a Partnership according to the text?
What is the maximum number of individuals that can form a Partnership according to the text?
Which form of business organization may have management dependent on the capacity of the owner?
Which form of business organization may have management dependent on the capacity of the owner?
What is an advantage of a Partnership?
What is an advantage of a Partnership?
What type of partner contributes capital in cash or property according to the text?
What type of partner contributes capital in cash or property according to the text?
What are the disadvantages of a Limited Liability Corporation?
What are the disadvantages of a Limited Liability Corporation?
Which type of business activity involves buying goods and selling them without changing their form?
Which type of business activity involves buying goods and selling them without changing their form?
What are examples of businesses falling under Service Business?
What are examples of businesses falling under Service Business?
In which type of business activity are goods sold in small quantities?
In which type of business activity are goods sold in small quantities?
What is a common challenge faced by Limited Liability Corporations according to the text?
What is a common challenge faced by Limited Liability Corporations according to the text?
Which type of business activity involves the conversion of raw materials into finished goods?
Which type of business activity involves the conversion of raw materials into finished goods?
