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Elden [556K]
2 years ago
10

All of the following statements regarding a limited partnership subscription agreement are true except

Business
1 answer:
USPshnik [31]2 years ago
4 0

*A limited partner's signature on the subscription agreement grants the general partner power of attorney to conduct the partnership's affairs. The subscription agreement for a limited partnership is deemed accepted when the general partner signs the subscription agreement.

<h3>What is a subscription agreement for a limited partnership?</h3>

The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership. When the general partner signs the subscription agreement, it is considered approved for a limited partnership.

<h3>What does the general partner's signature on the subscription agreement mean?</h3>

The limited partners are given authority to manage the partnership's affairs by the general partner's signature. The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership.

<h3>What is a recourse note in a limited partnership?</h3>

Recourse notes obligate the limited partner to make payments regardless of what transpires. He is legally responsible for the $40,000, making his tax base and possible maximum loss $50,000.

A) manage partnership assets on behalf of the partnership as an agent. B) offer the limited partnership real estate.

Learn more about Limited partnership:

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An ______ in the interest rate (r), ceteris paribus, will cause planned investment to ______.
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An increase in the interest rate (r), ceteris paribus, will cause planned investment to decrease.

Explanation:

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On January 1, Year 1, the City Taxi Company purchased a new taxi cab for $39,000. The cab has an expected salvage value of $4,00
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depreciation expense year 2 = $8,925

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