Compare general, limited, and limited liability partnerships. Formulate reasons as to why a group of prospective partners might choose each.
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Compare general, limited, and limited liability
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- Compare and contrast the benefits and detriment of being a general partner versus a limited partner of a limited partnership?How can the general partner–syndicator structure the partnership to offer incentives to limited partners?What are some of the advantages and disadvantages of forming a partnership?
- Partnership dissolution. Please see question in image.compare the benefits and detriments of being a general partner versus a limited partner of a limited partnership.Choose the correct. Which of the following best describes the articles of partnership agreement?a. The purpose of the partnership and partners’ rights and responsibilities are required elements of the articles of partnership.b. The articles of partnership are a legal covenant and must be expressed in writing to be valid.c. The articles of partnership are an agreement that limits partners’ liability to partnership assets.d. The articles of partnership are a legal covenant that may be expressed orally or in writing, and forms the central governance for a partnership’s operations.