Which of the Following Statements Is True About a Corporation

question 60

Multiple Choice

Which of the following statements is true about a corporation being a general partner in a limited partnership?

• A) A corporation can be a general partner in a limited partnership, but only if it is not the sole general partner.
• B) A corporation can be a general partner in a limited partnership, even if it is the only general partner.
• C) A corporation can be a general partner in a limited partnership, but only if another corporation is a limited partner.
• D) A corporation can be a general partner in a limited partnership, but only if there is at least two or more general partners.

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Definitions:

Potential Earnings Figures

Estimates or projections of the amount of money that could be earned in the future, often used in the context of investments or employment.

Prospective Franchisees

Individuals or entities that are considering entering into a franchise agreement to operate a branded business.

Separate Business Organization

An entity that operates independently from other business entities, often with its own legal and tax considerations.

Sole Proprietorship

A business owned and operated by a single individual, with no separation between the business and the owner.