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Which of the given statements is accurate?

a. In a regular partnership, liability for other partner's misdeeds is limited to the quantity of a particular partner's investment in business.

b. Attracting big amounts of capital is harder for partnerships than for corporations because of such factors as unlimited liability, the requirement to reorganize when a partner dies, and the illiquidity (difficulty buying and selling) of partnership interests.

c. The slow-growth company, with little requirement for new capital, would be more probable to organize as a corporation than would a faster growing company.

d. The limited partners in a limited partnership include voting control, while the general partner has operating control over the business. As well the limited partners are individually responsible, on a pro rata basis, for the firm's debts in the event of bankruptcy.

e. The main difficulty of all partnerships compared to all corporations is the fact that federal income taxes should be paid by the partners instead of by the firm itself.

Business Law & Ethics, Finance

  • Category:- Business Law & Ethics
  • Reference No.:- M915921

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