Justin and Michael Form a Limited Partnership and Start a Car

question 32

Multiple Choice

Justin and Michael form a limited partnership and start a car dealership. Justin is the general partner and Michael is the limited partner. Seven months after the commencement of the business, Pedro makes an investment and wishes to become a general partner. A week later, Michael's mother wishes to join the partnership as a limited partner. Which of the following is true in this scenario?

• A) Pedro cannot become a general partner to the partnership after the business has commenced.
• B) Pedro cannot become a general partner to the partnership as a limited partnership can only have one general partner.
• C) Michael's mother cannot become a limited partner to the partnership as a limited partnership can only have one limited partner.
• D) Both Pedro and Michael's mother can choose to become either general or limited partners to the partnership.

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Definitions:

Percentile Score

A statistical measure indicating the percentage of scores in its frequency distribution that a specific score is equal to or lower than.

Deviation IQ

A method of calculating intelligence quotient where an individual's score is expressed as a deviation from the mean score of the age group.

IQ Tests

Uniform evaluations aimed at measuring the cognitive abilities and intelligence of humans.

Intellectual Disability

A term used to describe individuals who exhibit limitations in intellectual functioning and adaptive behavior, originating before the age of 18.