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WHICH PERSON WOULD GENERLLY BE TREATED AS A MATERIAL PARTICIPANT
IN AN ACTIVITY?
Multiple choice
1. A participant in a rental activity.
2. A limited partner.
3. A LLC member not involved with management of the LLC.
4. A general partner.
Solution
Answer is 4. A General Partner.
Explanation:
General partner is a person who takes active participation in the day to day matters of the
business.

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WHICH PERSON WOULD GENERLLY BE TREATED AS A MATERIAL PARTICIPANT IN .pdf

  • 1. WHICH PERSON WOULD GENERLLY BE TREATED AS A MATERIAL PARTICIPANT IN AN ACTIVITY? Multiple choice 1. A participant in a rental activity. 2. A limited partner. 3. A LLC member not involved with management of the LLC. 4. A general partner. Solution Answer is 4. A General Partner. Explanation: General partner is a person who takes active participation in the day to day matters of the business.