Fern and Gray Want to Form a Limited Partnership to Manage

question 60

Multiple Choice

Fern and Gray want to form a limited partnership to manage two restaurants: Café Latte and Deli Delite. In most states, a limited partnership will be created when

• A) a certificate of limited partnership is filed.
• B) a partnership agreement is executed.
• C) the business for which the firm is formed actually begins.
• D) the partners make their capital contributions.

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Definitions:

Career Planning

Career Planning is the continuous process of setting individual career goals and mapping out the path to achieve them, considering various opportunities and challenges.

Self-Actualization Needs

The highest level in Maslow's hierarchy of needs, referring to the realization of an individual's potential, self-fulfillment, and personal growth.

Cognitive Need

A psychological term that refers to an individual's desire to acquire new knowledge and understandings, contributing to their intellectual development.

Transcendence

Going beyond ordinary limits; surpassing or exceeding normal boundaries or levels.