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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Learn It 4-2 & 4-3

Learn It 4-2 & 4-3

Q 1.In a ________, some partners do not participate in managing the business and in return receive limited liability. 2.Which of the following is true about taxes for partnerships? 3.One owner in a partnership may be the creative force behind the product, while another is excellent at managing the finances of the business. For which advantage of general partnerships is this an example?

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1. limited partnership 2.Earnings pass through the business and are taxed as the owners’ personal income.