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Harman [31]
2 years ago
15

A limited partnership: Multiple Choice a. has an unlimited life. b. can opt to be taxed as a corporation. c. terminates at the d

eath of any one limited partner. d. has at least one partner who has unlimited liability for all of the partnership's debts. e. consists solely of limited partners.
Business
1 answer:
tino4ka555 [31]2 years ago
3 0

Answer:

The correct answer is letter "C": terminates at the death of any one limited partner.

Explanation:

A partnership is an entity that runs a company with two or more owners. They share the profits in proportion to their relationship benefit in percentage terms. There are two types of partnerships: general partnerships (<em>unlimited liability</em>) and limited partnerships (<em>liability proportional to the contribution to the partnership</em>).

<em>When one of the partners is removed, retires, or deceases or even when a new partner will be added, the partnership dissolves and a new partnership is formed</em>.

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