Answered: What is the Use of Corporate General…

Business

Accounting

What is the Use of Corporate General Partners?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 20Q: What is corporate social responsibility, and who are the stakeholders?

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What is the Use of Corporate General Partners?

Expert Solution

Step 1

In a partnership, two or more parties agree to operate and manage a business and share the profits of a business through a proper formal agreement. When an agreement between the partners comes to an end, it is said that partnership is dissolved. Law governs the dissolution of partnership.

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