Jim is one of several general partners who own beef 'n beer, a small chain of restaurants located in missouri and illinois. jim is interested in converting the partnership into a master limited partnership. if he convinces other partners to go along with his idea, beef 'n beer will: offer shares of ownership that are traded on a stock exchange much like a corporation. pay its taxes like a corporation. begin to operate much like a sole proprietorship. have to change its name to include the term ltd. in its title to indicate its owners have limited liability.

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16-06-2018
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Jim is one of several general partners who own beef 'n beer, a small chain of restaurants located in missouri and illinois. jim is interested in converting the partnership into a master limited partnership. if he convinces other partners to go along with his idea, beef 'n beer will: offer shares of ownership that are traded on a stock exchange much like a corporation. pay its taxes like a corporation. begin to operate much like a sole proprietorship. have to change its name to include the term ltd. in its title to indicate its owners have limited liability.

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ahmedishaal ahmedishaal · Answer 1 · 2018-06-25T09:25:33+02:00

The correct answer is "offer shares of ownership that are traded on a stock exchange much like a corporation".

Master limited partnerships work much like enterprises with shares of proprietorship exchanged on the stock trades, however like a partnership they are taxed, where every proprietor includes his/her profits to other individual pay earned and pays tax on it at the proprietor's own rate of income tax.