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Some States Have Passed Laws Prohibiting the Withdrawal of Limited

question 58

True/False

Some states have passed laws prohibiting the withdrawal of limited partners from a limited partnership.


Definitions:

Industry

A group of firms producing similar products or services that serve the same market.

Profits

The financial gain achieved when the revenue from business activities exceeds the costs and expenses involved in operating.

Market Economy

An economic system where the prices of goods and services are determined in a free price system, set by supply and demand.

Efficient

Pertaining to a system or process that operates in a way that maximizes output with minimal waste, effort, or expense.

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