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_______ account for 5 percent of all the businesses in the United States.
general partner
limited liability company (LLC)
transaction
double taxation
spends more money than it receives
limited partner
profit
partnerships
A _______ is a business partner who has decision-making authority, takes an active role in the operation of a business, and has unlimited liability for all losses or debts of the partnership.
general partner
limited liability company (LLC)
transaction
double taxation
spends more money than it receives
limited partner
profit
partnerships
A _______ is a business that operates and pays taxes as a partnership but has limited liability for the owners.
general partner
limited liability company (LLC)
transaction
double taxation
spends more money than it receives
limited partner
profit
partnerships
A(n) _______ occurs each time a business records a purchase.
general partner
limited liability company (LLC)
transaction
double taxation
spends more money than it receives
limited partner
profit
partnerships
_______ is a disadvantage of organizing a business as a corporation.
general partner
limited liability company (LLC)
transaction
double taxation
spends more money than it receives
limited partner
profit
partnerships
A _______ is a business partner who does not take an active role in decision making or running the business.
general partner
limited liability company (LLC)
transaction
double taxation
spends more money than it receives
limited partner
profit
partnerships
Negative cash flow is a situation that occurs when a business _______.
general partner
limited liability company (LLC)
transaction
double taxation
spends more money than it receives
limited partner
profit
partnerships
The amount of money earned over and above the amount spent to keep the business operating is called _______.
general partner
limited liability company (LLC)
transaction
double taxation
spends more money than it receives
limited partner
profit
partnerships
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