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Which partnerships was organized in compliance

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Reference no: EM133001030

Problem 1: Which of the following partnerships was organized in compliance with all the legal requirements of the SEC.

a. Limited Partnership

b. General Partnership

c. De facto Partnership

d. De jure Partnership

Problem 2: One who takes charge of the winding up of partnership affairs upon dissolution:

a. Nominal partner

b. Silent partner

c. Ostensible partner

d. Liquidating partner

Problem 3: Which of the following would be an advantage of the partnership?

a. Partners do not pay income taxes on their share in the partnership net income.

b. A partnership is bound by the act of the partners.

c. A partnership is created by mere agreement of the partners.

d. A partnership will be terminated by the death or withdrawal of a partner.

Reference no: EM133001030

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