Partnerships and Corporations

Partnerships and Corporations

By Michael Dominguez

Multiple Choice

Partners share management of business and is liable for all business debts and losses

• limited partner

• general partner

• limited liability partnership

Multiple Choice

one partner is only responsible for the funds and part financial responsibility for their investment; not included in the day to day management

• limited partner

• general partner

• limited liability partner

Multiple Choice

all partners are limited liable partners and are NOT responsible for each others debts and legal responsibilities

• limited partnership

• general partnership

• limited liability partnership

Multiple Choice

share of ownership in a corporation

• stock

• dividend

Multiple Choice

issues stock that can be publicly traded

• public corporation

• private corporation

Multiple Choice

share of profits of a corporation to its shareholders

• stock

• dividend

Multiple Choice

controls who can buy and sell its stocks

• public corporation

• private corporation

Multiple Choice

combining two or more companies that produce the same or similar products

• vertical merger

• horizontal merger

Multiple Choice

combining of companies that are involved in the different steps of producing a product or marketing a product

• vertical merger

• horizontal merger