When a Business Owner Forms a Master Limited Partnership, What

question 119

Multiple Choice

When a business owner forms a master limited partnership, what responsibilities does the master partner have toward the minority partner(s) ?

• A) The master partner must provide detailed operating and financial reports.
• B) The master partner must allow the partners a vote on all major business changes and transactions.
• C) The master partner must make all liabilities clear before the partnership is formed.
• D) The master partner must give up majority ownership.
• E) The master partner must allow the partners to take an active role in the business.

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Definitions:

Fertilized Egg

The result of the fusion of a male sperm cell and a female ovum, marking the beginning of a new organism's development.

Zygote

The initial cell formed when a new organism is produced by means of sexual reproduction, resulting from the fusion of male and female gametes.

Implantation

The process by which a fertilized egg attaches to the lining of the uterus beginning pregnancy.

Embryo

An early stage of development in multicellular organisms, following fertilization and before becoming a fetus.