Rauber & Ryan, Inc. was a management consulting business operating in 27 states. If they decide to change their business organization to a limited liability company (LLC), a potential disadvantage would be: that they would lose the limited liability of their partnership. that it may trigger capital gains tax liability caused by the termination of the corporation. that they would lose the advantageous tax treatment given shareholders' dividends. O all of the above. Question 5 2 pts Marisa was a CPA who formed a partnership with another CPA, Dave. They formed a limited liability partnership (LLP). If Marisa negligently fails to correctly calculate a client's tax liability, resulting in fines to the client: O Marisa is personally liable, since she was negligent, but not Dave, who was not negligent. Marisa can be personally liable despite the fact that she was acting in the course of LLP business. O Marisa and Dave are both personally liable, since the tort occurred in the course of business, and, as professionals, they retain personal liability. O Neither Marisa nor Dave is individually liable since, as members of a limited liability partnership, they are shielded from personal liability. O None of the above is true. Question 6 3 pts Ben, Colleen and Stephanie formed a limited partnership, with Ben acting as general partner in exchange for ten limited partnership membership shares. Colleen held 20 limited partnership shares (for which she had originally paid $20,000) and Stephanie had ten limited partnership shares (for which she had originally paid $10,000). The limited partnership is now dissolving and, after paying creditors, has $120,000 remaining. Under these circumstances: Ben, Colleen and Stephanie split the proceeds equally, i.e. $40,000 each. Colleen and Stephanie split the proceeds proportionately, i.e. Colleen with $80,000 and Stephanie with $40,000. Ben does not participate because he did not contribute to the limited partnership. Colleen gets $ 50,000 (her contribution of $20,000 plus equal share of profit @ 30,000), Stephanie gets $40.000 (her $10.000 contribution plus equal profit share), and Ben gets $30,000 (his profit share). Colleen gets $65,000 (her contribution of $20,000 plus 50% of the profit at 45,000), Stephanie gets $32,500 (her $10,000 contribution plus 25%% of the profit at 22,500), and Ben gets $22.500 as his profit share