3. To what extent are the personal assets of a general partner, limited partner, or member of...
Question:
3. To what extent are the personal assets of a general partner, limited partner, or member of an LLC subject to
(a) contractual liability claims, such as trade accounts payable, and
(b) malpractice claims against the entity? Answer the question for partners or members in a general partnership, an LLP, a nonprofessional LLC, and a limited partnership.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Saikumar Ramagiri
Financial accounting:- Journal and ledgers, preparation of trail balance and adjusted trail balance Preparation of income statement, retained earning statement and balance sheet Banks reconciliation statements Financial statement analysis Cash flow statement analysis (both direct and indirect methods) All methods of Depreciations Management Accounting:- Ratios Budgeting control Cash budget and production budget Working capital management Receivable management Costing:- Standard and variance costing Marginal costing and decision making Cost-volume-profit analysis Inventory management (LIFO, FIFO) Preparation and estimation of cost sheet Portfolio management:- Calculation of portfolio standard deviation or risk Calculation of portfolio expected returns CAPM, Beta Financial management:- Time value of money Capital budgeting Cost of capital Leverage analysis and capital structure policies Dividend policy Bond value calculations like YTM, current yield etc International finance:- Derivatives Futures and options Swaps and forwards Business problems Finance problems Education (mention all your degrees, year awarded, Institute/University, field(s) of major): Education Qualification Board/Institution/ University Month/Year of Passing % Secured OPTIONALS/ Major ICWAI(inter) ICWAI inter Pursuing Pursuing - M.com(Finance) Osmania University June 2007 65 Finance & Taxation M B A (Finance) Osmania University Dec 2004 66 Finance & Marketing. B.Com Osmania University June 2002 72 Income Tax, Cost & Mgt, Accountancy, Auditing. Intermediate (XII) Board of Intermediate May 1999 58 Mathematics, Accountancy, Economics. S S C (X) S S C Board. May 1997 74 Mathematics, Social Studies, Science. Tutoring experience: • 10 year experience in online trouble shooting problems related to finance/accountancy. • Since 6 Years working with solution inn as a tutor, I have solved thousands of questions, quick and accuracy Skills (optional): Technical Exposure: MS Office, SQL, Tally, Wings, Focus, Programming with C Financial : Portfolio/Financial Management, Ratio Analysis, Capital Budgeting Stock Valuation & Dividend Policy, Bond Valuations Individual Skills : Proactive Nature, Self Motivative, Clear thought process, Quick problem solving skills, flexible to complex situations. Achievements : 1. I have received an Award certificate from Local Area MLA for the cause of getting 100% marks in Accountancy during my Graduation. 2. I have received a GOLD MEDAL/Scholarship from Home Minister in my MBA for being the “Top Rank student “ of management institute. 3. I received numerous complements and extra pay from various students for trouble shooting their online problems. Other interests/Hobbies (optional): ? Web Surfing ? Sports ? Watching Comics, News channels ? Miniature Collection ? Exploring hidden facts ? Solving riddles and puzzles
4.80+
391+ Reviews
552+ Question Solved
Related Book For
Essentials Of Taxation Individuals And Business Entities
ISBN: 233160
1st Edition
Authors: Nellen/Young/Raabe/Maloney
Question Posted:
Students also viewed these Business questions
-
To what extent are the personal assets of a general partner, limited partner, or member of an LLC subject to (a) Contractual liability claims, such as trade accounts payable, and (b) Malpractice...
-
Do the reading assignment and then look up KRS 275.520 and read its text.Then answer the questions below. Fully explain your answers: 1.What is the taxation advantage of a LLC as opposed to a...
-
To what extent are the personal assets of a general partner, limited partner, or member of an LLC subject to (a) Contractual liability claims such as trade accounts payable (b) Malpractice claims...
-
Carl contributes equipment with a $50,000 adjusted basis and an $80,000 FMV to Cook Corporation for 50 of its 100 shares of stock. His son, Carl Jr., contributes $20,000 cash for the remaining 50...
-
Polystyrene can be made more rigid by copolymerizing styrene with divinylbenzene, What purpose does the divinylbenzene serve? Why is the copolymer more rigid? CH=CH2 CH=CH,
-
Go the website of the Center for Ethics and Business at Loyola Marymount University (lmu.edu/Page23849.aspx) and take the quiz entitled Whats Your Ethical Style? Analyze what your score implies about...
-
Rights issue LO6 Sunny Day Ltd needs to raise funds for mining projects in Western Australia. It currently has share capital of $2 million dollars and has issued 1 million shares. The directors have...
-
1. How would you describe the competitive strategy of Walnut Creek amphitheatre? Given the firm's strategy, what are the most important Key Performance Indicators (e.g., quantitative measures) for...
-
the vast majority of Boston Chicken locations are operated by franchisees. How would Boston Chickens financial statements be different if all of the franchise stores were company-owned stores...
-
Research Problem 1. Your clients, Grayson Investments, Inc. (Ana Marks, President), and Blake Caldwell, each contributed $200,000 of cash to form the Realty Management Partnership, a limited...
-
2. Jim Dunn, Amy Lauersen, and Tony Packard have agreed to form a partnership. In return for a 30% capital interest, Dunn transferred machinery (basis $268,000, fair market value $400,000) subject to...
-
Describe customer relationship management (CRM) and its role in supporting business operations.
-
A liquid hydrocarbon mixture was made by adding 295 kg of benzene, 289 kg of toluene and 287 kg of p-xylene. Assume there is no change of volume upon mixing, i.e., Vmix=0 , in order to determine: 1....
-
b) Maseru Development Bank has R850 million credit with Matsieng Hydroelectric Power, with a maturity of eighteen months. The expected loss for Maseru Development Bank is R22 million, and the...
-
Assume an organic compound has a partition coefficient between water and ethyl acetate equal to 8.12. If there are initially 7.10 grams of the compound dissolved in 75.0 mL of water, how many grams...
-
Berger Paint Pakistan limited produces three types of joint products, S ilver paint, G olden paint and D iamond paint. During March, 2020, the following information was recorded : Particulars Silver...
-
Choose an industry in which you are interested in working. How is that industry trending? What internal and external factors may affect the direction of the organization? For your initial post,...
-
Discuss the value of postaudits. Who should conduct them? When? Should they consider solely financial performance? Should they be confined to the larger projects?
-
An access route is being constructed across a field (Figure Q8). Apart from a relatively firm strip of ground alongside the field's longer side AB, the ground is generally marshy. The route can...
-
Current Attempt in Progress An alphabetical list of Pharoah Company adjusted accounts at its fiscal year end, August 3 1 , 2 0 2 4 , follows. All accounts have normal balances. \ table [ [ Accounts...
-
Explain the concept of hedging in finance. How does hedging reduce risk exposure for businesses?
-
MIRR Project L costs $45,000, its expected cash inflows are $10,000 per year for 8 years, and its WACC is 12%. What is the project's MIRR? Round your answer to two decimal places. Do not round your...
Study smarter with the SolutionInn App