Business, 07.01.2020 07:31 destinywiggins75

In a limited liability partnership, each partner's risk of losing personal assets is:
a. unlimited.
b. limited to losses that result from his/her own acts and omissions and the acts and omissions of those who work under his/her supervision.
c. determined entirely by the maximum loss provision established by the articles of co-partnership.
d. nonexistent.

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Answer from: deeyoung92

Option B

Explanation: A Limited Liability Partnership (LLP) refers to a partnership arrangement in which some or even all associates bore limited liability. Thus, it might display partnership and corporate components. Every member in such a partnership is not accountable or liable for the wrongdoing or incompetence of another member.

One or more of the participants in such a partnership have a sort of limited liability close with that of a company's stakeholders. Those partners have all the ability to personally run the company as opposed to company shareholders.

Thus, from the above we can conclude that the correct option is B.

Answer from: kandiceboggs1

B - Limited to losses that result from his/her own acts and omissions and the acts and omissions of those who work under his/her supervision.

Explanation:

In a limited liability partnership, each partner's risk of losing personal assets is limited to the share capital he has invested. The limited liability partner is not liable for other partners deeds and losses incurred due to their negligence. His liability is limited to the share capital / equity he has invested in the business.

Answer from: Quest

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

Answer from: Quest

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.

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In a limited liability partnership, each partner's risk of losing personal assets is:
a. unl...

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