--%>
Assignment Help - homework help

What is Limited partnerships

Limited partnerships: Limited partnerships are an alternative to limited liability companies because of their simplicity.

All the states encompass passed limited partnership legislation.

A limited partnership comprises of at least one general partner:

  • Their capital contribution on entering the partnership will determine the extent of their liability for the debts of the firm;
  • Their role is to manage the limited partnership and their role is the same as a partner under partnership law.

Limited partners are not liable for debts beyond their capital contribution.

  • Registration is required in all states.

   Related Questions in Managerial Accounting

  • Q : Balloon payment The final payment in a

    The final payment in a partially amortized loan. The balloon payment repay the entire remaining principal and is usually larger than previous payments on the loan. Loan that is set up with balloon payments allow the borrower to make the purchase and have a lower payme

    		•
  • Q : Fundamentals of Accounting Assignment

    Assignment 1: A adjusted Trial balance table given below: Southwest Business School

    Q : Features of the management accounting

    What are the various features of the management accounting information system?

    		•
  • Q : Write a short note on Not-for-profit

    Write a short note on Not-for-profit organizations?

    		•
  • Q : Capital account An account used in a

    An account used in a partnership to record an individual partner's investment in the partnership plus the indi- vidual's share of any undistributed partnership income. In a corpo- ration, the equity sections have two parts: the contributed capital and retained earning

    		•
  • Q : Management accounting and financial

    What does the difference between management accounting and financial accounting suggest?

    		•
  • Q : Define Cost Avoidance Cost Avoidance :

    Cost Avoidance: The action taken to decrease future costs, like replacing parts before they fail and cause harm to other portions. Cost avoidance might incur higher (or extra) costs in the short run however the final or life-cycle cost would be lower.

    		•
  • Q : Things which Weaknesses comprises Write

    Write a brief note on the things which Weaknesses comprises?

    		•
  • Q : Appropriations The term used in

    The term used in governmental accounting to identify amounts that the governmental unit is authorized to spend for debt repayment, operating activities, and asset acquisition. The appropriations account is a budgetary account that acts as a control account for all budgeted expenditures. More usua

    		•
  • Q : Fixed capital of partners Explain the

    Explain the term fixed capital of partners? Answer: Partners' capital is state to be fixed if the capital of Partners remains unchanged except in the situation where

    		•