BUSA 2106 exam 2 Questions And Answers Latest Updates
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Course
BUSA 2106
Institution
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
...
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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