BUS 420 Lecture Notes - Lecture 1: Limited Liability Partnership, Limited Liability, Sole Proprietorship
31 Jan 2019
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Document Summary
Chapter 1 - an overview of financial management and the financial environment. Corporate finance provides the skills managers need to: Identify and select the corporate strategies and individual projects that add value to their firm. Forecast the funding requirements of their company, and devise strategies for acquiring those funds. Business organization from start-up to a major corporation. Partnership - exists when two or more persons associate to conduct a business. Certain partners are designated general partners and others limited partners. General - partner has unlimited liability. limited - liability is limited to the amount of the investment. All partners enjoy limited liability with regard to the business"s liabilities, and their potential losses are limited to their investment in the llp. Combines the limited liability advantage of a corporation with the tax advantages of a partnership. A corporation is a legal entity created by a state. The corporation is separate and distinct from its owners and managers.
