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FINA 3332 EXAM 1 MOCK TEST AND STUDY MATERIAL WITH FINANCIAL CALCULATION AND THEORY SCENARIOS

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FINA 3332 EXAM 1 MOCK TEST AND STUDY MATERIAL WITH FINANCIAL CALCULATION AND THEORY SCENARIOS

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FINA 3332 EXAM 1 MOCK TEST AND STUDY
MATERIAL WITH FINANCIAL CALCULATION
AND THEORY SCENARIOS

◉ limited partner.
Answer: liability is limited to their investment


death or withdrawal does not dissolve the partnership.


interest is transferable


no management authority


legally cannot be involved in managerial decision making for the
business


◉ limited liability.
Answer: investor's liability is limited to her investment


◉ Limited liability company (LLC).
Answer: limited partnership without a general partner.

, limited liability


management authority (managing members)


owners are referred as members


◉ corporations.
Answer: legally defined, artificial being separate from its owners.


unique leaving entity obligation


enter contracts, acquire assets, incur obligation and is protected
under US constitution against seizure of its property.


owners are not liable for any obligations the corporation enters into
or liable for owner's personal obligations.


◉ corporation key features.
Answer: No limit to the number of owners.


◉ equity.

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