Chapter 4 Review

Edit Answers
123456789101112131415161718192021222324
Across
  1. 4. Limited partnership certificate setting forth required details about the company must be filed with ________
  2. 5. General partners owe a ____ to limited partners
  3. 11. The ____ of a limited partner does not usually
  4. 12. When a L.P. is dissolved the third 'item' to be paid are ______________ to partners.
  5. 17. A limited partnership can have a/an ____ number of limited partners but must have at least one general partner
  6. 18. Written document that sets forth the agreement of the partners
  7. 19. A partnership made up of both general and limited partners
  8. 22. A limited partnership is treated as a _____ entity when dealing with real estate and the right to sue
  9. 23. One person ___ be both a general partner and a limited partner in the same partnership.
  10. 24. In most states limited partners may not ____ in the control and management of the limited partnership
Down
  1. 1. Partnership ____ and losses are allocated in accordance with the limited partnership agreement
  2. 2. The personal risk of a limited partner is limited to their ______
  3. 3. The ____ of a general partner may dissolve the limited partnership
  4. 6. ____ is a type of lawsuit brought on behalf of the limited partnership by a limited partner
  5. 7. Except as stated by statute, the rights and responsibilities of a general partner in a limited partnership is the ________ as a general partner in a general partnership
  6. 8. An association of two or more persons to carry on as co-owners of a business for profit
  7. 9. the limited partnership
  8. 10. The ____ of a limited partner does not usually dissolve the limited partnership
  9. 12. Limited partners put what at risk
  10. 13. A partner who typically has unlimited personal liability for debts/obligations of partnership
  11. 14. There are more ________ partnerships in the U.S.
  12. 15. First uniform law concerning limited partnerships in the U.S.
  13. 16. partner A partner who invests but does not assume personal liability for debts/obligations of partnership
  14. 20. Limited partnerships are ___ subject to federal income taxation as separate entities
  15. 21. Profits can be distributed to partners if they owe no ____