In a limited partnership, at least one general partner must remain in the association; the privilege of limited liability still applies to this partner.
Correct Answer:
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Q28: There is no legal distinction made between
Q29: A corporation is owned by
A) shareholders and
Q30: The major sources of financing for corporations
Q31: The term stockholder is equivalent to
A) general
Q32: Which of the following is a significant
Q34: The sole proprietorship is the same as
Q35: Owners must register and pay yearly fees
Q36: Limited partners may actively manage the business.
Q37: The life of a corporation is not
Q38: A limited partner is liable
A) for only
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