47. A invests money in the business but has no management responsibility a. general partner b. limited partner c. sole proprietor d. nominal partner e. stockbroker 48 The_is a legal document that lists and explains the terms of the partnership. a. co-owners’ agreement b. charter e will d. articles of partnership e. formation contract form of business organization that accounts for just over 80 percent of all sales revenues in the United States is the a. sole proprietorship. b. partnership. c. corporation. d. joint venture. e. syndicate 50. Kayla purchases shares of ownership in General Electric. These shares are referred to as a. ownership documents. b) stock. c. articles of ownership. d. incorporation. e. corporate certificates. 51. The most effective form of business organization for raising capital is the a. joint venture. b. syndicate. c. sole proprietorship d. partnership e. corporation. The form of business organization that experiences double taxation is the a. partnership. b. corporation c. venture company d. syndicated partnership e. sole proprietorship. 52. What does double taxation mean? Companies must pay taxes on their income, and then employees must pay taxes on their salaries and wages Companies have to pay both sales taxes and income taxes. Companies must pay taxes on their earnings, and then stockholders pay taxes on their dividends. . a. b. c. Suppliers tax their customers, and in turn these businesses tax the ultimate consumer. Companies must pay taxes on corporate income and then additional taxes on distributions to profit stockholders d. e.
A limited partner invests money in the business
but has no management resposibility.
A limited partner is a person who invests money in a business
but who has no management responsibility or liability for losses
beyond his or her investment in the partnership. Typically, the
general partner or partners collect management fees and receive a
percentage of profits.