1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vazorg [7]
3 years ago
15

What is the major advantage of an LLP? a. It limits the personal liability of partners to only their own wrongful acts. b. It in

creases the liability of the partners. c. It allows the partnership to be taxed as a corporation.
Business
1 answer:
Troyanec [42]3 years ago
6 0

Answer:

a.It limits the personal liability of partners to only their own wrongful acts.

Explanation:

In a limited liability partnership, the liability of the partners is limited to the amount of capital contributed by them. In the event of losses, personal assets of the partners can not be taken away to make good the losses which is the case with general partnership.

In partnership form of business, two or more individuals bring in respective capital contribution and agree to share risk and rewards in a pre determined ratio and other terms as per the clauses of partnership deed signed by all the partners.

Thus, the major advantage of an LLP is that it (a). It limits the personal liability of partners to only their own wrongful acts.

You might be interested in
Harry and Meghan have considered starting their own business but are concerned about the possibility of losing even their person
schepotkina [342]

Answer:

The correct option is D,form a corporation

Explanation:

The rationale for my choice of answer is that limited liability applies to a corporation which is found in other types of businesses.

Limited liability is a concept which implies that the liability of shareholders in a limited liability company is limited to the amount contributed to the business by a way of shares held in the company.

When a company runs into debt,the shareholders would not be required to make up such debts from their private pockets,hence Harry and Meghan personal effects are secure.

4 0
3 years ago
Intentionally making any false or materially inaccurate representation or comparison of two or more policies which induces any p
melomori [17]

Answer:

twisting

Explanation:

Twisting is considered a first degree misdemeanor, and the people responsible for committing twisting can be fined up to $5,000 (if it was unintentional), or up to $75,000 for each intentional violation.

Misdemeanors are crimes so they also affect a person's legal status, even though they do not carry any jail time.

3 0
4 years ago
15. Snowland and Pledza are neighboring countries. Pledza imports more products than it exports. Over the last decade, Pledza im
antiseptic1488 [7]

Answer:

trade deficit

Explanation:

From the question, we are informed about Snowland and Pledza are neighboring countries. Pledza imports more products than it exports. Over the last decade, Pledza imports from Snowland have been rapidly increasing but not fast enough to offset the exports to Snowland. In this case we can say about Pledza has a trade deficit. trade deficit also known as "negative balance of trade" can be described as a method to measure international trade. It can be regarded as the amount by which cost spent on the imports in a country exceeds the cost of exports. We can calculate trade deficit by finding the difference in value of exports of country and its imports.

5 0
3 years ago
Ratio Calculations Assume the following relationships for the Caulder Corp.: Sales/Total assets 2.2x Return on assets (ROA) 5% R
Valentin [98]

Answer:

2.27% ; 61.54%

Explanation:

Given that,

Sales/Total assets = 2.2x

Return on assets (ROA) = 5%

Return on equity (ROE) = 13%

Therefore,

Return on assets = Profit margin × Assets turnover

0.05 = Profit margin × 2.2

Profit margin = 0.05 ÷ 2.2

Profit margin = 0.0227 or 2.27%

Percent of total assets is from equity:

= Return on assets ÷ Return on equity

= 0.05 ÷ 0.13

= 0.3846 or 38.46%

Hence, the debt is as follows:

Debt = Assets - equity

        = 1 - 0.3846

        = 0.6154 or 61.54%

7 0
3 years ago
PLEASE PLEASE PLEASE HELP !!
valina [46]

Answer:

box 1 box 3 and box 5 try that of not im sorry

4 0
3 years ago
Other questions:
  • Prepare entries to record the sale of the copiers, the related warranty costs, and any accrual on December 31, 2020. Actual warr
    14·1 answer
  • Describe three issues that might arise from failure to comply with quality control standards.
    10·2 answers
  • Daniel, his parents, and three brothers own all the stock of their family farm corporation and each person takes an active role
    15·1 answer
  • Devon is in the market for a new car. After having done her research, she has determined that the Jeep Grand Cherokee is the bes
    5·1 answer
  • Quantitatively, how important is international trade to the United States relative to the importance of trade to other nations?
    6·1 answer
  • A proposed new investment has projected sales of $515,000. Variable costs are 44 percent of sales, and fixed costs are $128,500;
    9·1 answer
  • You are the creative director at a Milwaukee ad agency. Today, your copywriters are presenting you with their ideas for several
    5·1 answer
  • The responsibilities of the board of directors includes: Group of answer choices Caring for shareholder interests A
    11·1 answer
  • A journal entry that debits manufacturing overhead and credits property taxes payable records the ______.
    14·1 answer
  • a firm has a pure discount loan with face value of $75,000 that is due in six months. the assets of the firm are currently worth
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!