Which One of These Characteristics Best Describes the Primary Advantage

question 53

Multiple Choice

Which one of these characteristics best describes the primary advantage of being a limited partner rather than a general partner?

• A)Entitlement to a larger portion of the partnership's income
• B)Day-to-day management control of the business
• C)Profits free of any income taxation
• D)Overall control of the partnership
• E)Personal financial liability limited to the capital invested

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Definitions:

Eight-Hour Day

The movement or policy of reducing the standard working day to eight hours, advocating for a balance between work, leisure, and rest.

Union Federation

A group or association of unions that come together to pool resources, coordinate activities, and represent the interests of members across multiple industries or regions.

Sit-Down Strike

A form of protest where workers occupy their place of employment but refuse to work, as a form of industrial action.

Jurisdictional Principle

The concept that a particular labor union has the exclusive right to represent workers in its sector or industry, and to decide on job assignments based on its rules.