[MGMT 209] - Final Exam Guide - Everything you need to know! (50 pages long)
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Ii) partnership: like a sole proprietorship, but with two people, both of them are completely liable, just like a sole proprietorship, share the costs, share the profit, example: double dave"s back when it started. D. 1) because of the amount of potential owners by stocks, it is managed by officers that are appointed by the vote of all stockholders. Shareholders aren"t liable whatsoever for the debts of a corporation. Nintendo and they go crashing down in a blaze of mystical otherworldly debt, i don"t gotta pay jack shit. D. 3) note: it is possible to run a 1 man corporation, it"s just hard. Iv) limited partnership: same as a partnership, except that you have different classifications for the partners. A. 1) general partners actually do the business and take care of it/manage it. A. 2) (a. 1. a) general partners are fully liable for everything they do.
