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What is the difference between an llc and an llp

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Reference no: EM132954453

Problem 1: What is the difference between an LLC and an LLP? (Hint: An LLC and and LLP are not a limited partnership. All three are separate forms of organization.)

Problem 1: How are partnership profits allocated?

Problem 3: What is the difference between partnership liquidation and partnership dissolution? (Hint: do not report that they are the same.)

Reference no: EM132954453

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