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Exam (elaborations)

BUSA 2106 exam 2 Questions And Answers Latest Updates
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  • BUSA 2106

Proxy - ️️Shareholder's authorizing of another person to vote the shareholder's shares in the event of the shareholder's absence Limited Partner - ️️Partners who invest capital but do not participate in management and are not personally liable for partnership debts beyond their capital ...

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  • October 3, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • busa 2106

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  • BUSA 2106
  • BUSA 2106

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BUSA 2106 exam 2
Proxy - ✔️✔️Shareholder's authorizing of another person to vote the shareholder's
shares in the event of the shareholder's absence

Limited Partner - ✔️✔️Partners who invest capital but do not participate in
management and are not personally liable for partnership debts beyond their capital
contributions

Limited Partnership - ✔️✔️is a form of partnership similar to a general partnership,
except that where a general partnership must have at least two general partners (GPs),
a limited partnership must have at least one GP and at least one limited partner.

Sole Proprietorship - ✔️✔️also known as the sole trader or simply a proprietorship, is a
type of business entity that is owned and run by one natural person and in which there
is no legal distinction between the owner and the business.

General Partnership - ✔️✔️A arrangement by which partners conducting a business
jointly have unlimited liability, which means their personal assets are liable to the
partnership's obligations.


General partner - ✔️✔️Partners who invest capital, manage the business, and are
personally liable for partnership debts

Certificate of limited partnership - ✔️✔️sets rules for limited and general partners in
limited partnership

Limited liability companies - ✔️✔️is the United States-specific form of a private limited
company. It is a business structure that combines the pass-through taxation of a
partnership or sole proprietorship with the limited liability of a corporation.

Member - ✔️✔️Owner of an LLC

Articles of organization - ✔️✔️Formal documents that must be filed at the secretary of
state's office of the state of organization of an LLC to form the LLC

Corporation - ✔️✔️a large business or organization that under the law has the rights
and duties of an individual and follows a specific purpose

Incorporation - ✔️✔️The process of legally declaring a corporate entity as separate
from its owners

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