Choose the Word or Phrase in [ ] Which Will

question 30

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-When considering your possible losses as a property owner,you would be more likely to suffer a very severe loss from [loss of property | liability claims].

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Definitions:

Partnership Terminated

The ending or dissolution of a business partnership through various means, including mutual agreement, expiration of terms, or court order.

Limited Partnership

A partnership arrangement where at least one partner has limited liability to the extent of their investment in the business, while at least one other has unlimited liability.

General Partner

A partner in a partnership who has unlimited liability for the debts of the partnership and takes part in the management of the business.

Management

The process of planning, organizing, leading, and controlling resources to achieve organizational goals efficiently and effectively.