​When the State of Texas Contracts with a Private Company

question 48

Multiple Choice

​When the state of Texas contracts with a private company to build and run prisons in Texas,this is an example of _____.

• A)​moralistic culture
• B)​competition among governments
• C)​performance review
• D)​privatization
• E)​changing the state's tax structure

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Definitions:

LLLPs

Limited Liability Limited Partnerships, a form of business organization that offers both general and limited partners limited liability protection.

General Partner

A partner in a partnership who has unlimited liability and is responsible for managing the business.

Fiduciaries

Individuals or entities that hold a legal or ethical relationship of trust, requiring them to act in the best interest of the beneficiary.

Operating Agreement

A contract among the members of a Limited Liability Company (LLC) outlining the business's financial and functional decisions.