A Partnership That Consists of One General Manager That Manages

question 37

Multiple Choice

A partnership that consists of one general manager that manages the business and one or more partners that are not involved in the business is called a __________.

• A) general partnership
• B) limited partnership
• C) proprietorship
• D) limited liability corporation

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Definitions:

Tax

A compulsory charge by the government on individuals or entities' income, property, or goods, used to fund public services and government obligations.

Deadweight Loss

Deadweight loss refers to the loss of economic efficiency when the equilibrium outcome is not achievable or is not achieved in the market.

Tax

A compulsory monetary fee or a different kind of charge levied on a taxpayer by a government entity to finance government expenses and various public costs.

Buyers

Individuals or entities that purchase goods or services for consumption, use, or investment.