*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.
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His payment is late and he will be assessed a late fee
John is responsible for security of his company's new e-commerce server. he wants to ensure that online transactions are secure. He should use transport layer security.
A widely used security technology called Transport Layer Security, or TLS, enables privacy and data security for communications over the Internet. Encrypting communication between web applications and servers, such as when web browsers load a website, is one of the main applications of Transport Layer Security.
The Transport Layer Security protocol achieves its goals primarily through the use of encryption, authentication, and integrity.
Data transfer is protected from third parties by encryption.
Authentication is the process of confirming the identity of the persons sharing information.
Integrity: demonstrates that the data hasn't been altered or falsified.
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Preparing closing entries, which involves journalizing and uploading the entries to the ledger, is the eighth phase in the accounting cycle. During closure, there are four entries. To the Income Summary account, the initial entry cancels revenue accounts.
<h3>What order should the steps for closing an account be taken in?</h3>
Following is the basic order of closing entries: Clear the balances in the revenue accounts by debiting each revenue account and crediting the income summary account. To eliminate the balances in all expenditure accounts, credit all expense, accounts and debit the revenue summary account.
A journal entry debiting all revenue accounts and crediting the income summary is used to accomplish this. The same procedure is then used to calculate expenditures. Crediting the expense accounts and debiting the income summaries closes out all expenditures.
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The shareholders elect the board of directors.
