--%>
Assignment Help - homework help

What is Limited partnerships

Limited partnerships: Limited partnerships are an alternative to limited liability companies because of their simplicity.

All the states encompass passed limited partnership legislation.

A limited partnership comprises of at least one general partner:

  • Their capital contribution on entering the partnership will determine the extent of their liability for the debts of the firm;
  • Their role is to manage the limited partnership and their role is the same as a partner under partnership law.

Limited partners are not liable for debts beyond their capital contribution.

  • Registration is required in all states.

   Related Questions in Managerial Accounting

  • Q : Problem related to budget surplus Refer

    Refer to the below data. A budget surplus occurred in year: A) 2. B) 3. C) 4. D) 6. Provide solution of th

    		•
  • Q : Position analysis in a business What do

    What do you mean by the term position analysis in a business? Briefly illustrate it.

    		•
  • Q : What is Job Order Costing Job Order

    Job Order Costing: A technique of cost accounting which accrued costs for individual jobs or lots. A job might be a service or manufactured item, like the repair of tools or the treatment of a patient in the hospital.

    		•
  • Q : Deficiency of a partnership deed In the

    In the deficiency of a partnership deed, how are mutual relations of partners managed? Answer: In the absence of Partnership deed, the mutual relations are managed b

    		•
  • Q : Actual costing A function of measuring

    A function of measuring and assigning production costs to determine the unit cost. Actual revenue assigns the real cost of materials, labor, and overhead to ma

    		•
  • Q : Basic Fortran Project Fortran Project

    Fortran Project This is our last project of the semester. You have freedom to code anyway you like, but make sure to meet the minimum project requirements.&nb

    		•
  • Q : Define Differential Cost Differential

    Differential Cost: The cost difference predicted when one course of action is adopted rather than others.

    		•
  • Q : What is a Product Product : Any

    Product: Any traceable, discrete, or measurable good or service given to a customer. Frequently goods are termed to as tangible products, and services are termed to as intangible products. A good or service is the product result of a procedure resulta

    		•
  • Q : Cash coverage of growth A financial

    A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities

    		•
  • Q : Define Management Accounting Give a

    Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?

    		•