1. 2. 3. What is the level of liability on general partners?...
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What is the level of liability on general partners? a. Guaranty b. Limited c. Common d. Joint and Several Moe, Larry, and Curly form a limited partnership. Moe and Larry are general partners. Curly is a limited partner who provided initial financing. If Moe borrows noney in the name of the partnership without the knowledge of the other partners and the partnership is not able to pay the money back, who is potentially iable for repaying the loan? a. Moe, Larry, and Curly, equally b. Moe and Larry c. Only Curly since he has money d. Only Moe When selecting a business entity for a new business, which of the following is NOT a factor for structuring the business? a. Tax treatment b. Ability to raise capital c. Name of the Business d. Liability protection
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