A legal entity separate and distinct from its owners referred to as
shareholders, and formed by filing articles of incorporation is a:
~~> corporation
A partner who has no right to participate in control of the business and who
has limited liability is called a:
~~> limited partner...
A partnership agreement should include all but which one of the following?
a. The duties of the partners.
b. The capital contribution of the partners.
c. The agreement for dividing tax liability of the partnership.
d. The division of profits and losses.
✓ ~~> The agreement for dividing tax liability of the partnership
A partner owes all of the following duties to the partnership except:
a. duty of loyalty.
b. duty of obedience.
c. duty of care.
d. duty of control.
✓ ~~> Duty of Control
A partner's interest is subject to the claims of that partner's creditors who may
obtain a judicial lien known as a(n) __________ against the partner's
transferable interest.
Master01 | September, 2024/2025 | Latest update
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