The basic characteristics of a general partnership include group ownership, personal liability, decentralized management and pass-through federal income taxation. Limited liability of owners for business matters is the primary benefit that is available under other business structures, but it is not characteristic of a general partnership.Know More
A general partnership is a group of two or more persons who agree to work together for profit. The partners are personally responsible for all business transactions, and any individual partner has the authority to make decisions on behalf of the entire partnership unless that authority is expressly limited by the partners.
Unlike a corporation that must follow complicated management regulations, partners can manage the enterprise informally or under terms the partners agree upon themselves and formalize in a partnership agreement. General partnerships also benefit from special tax treatment under federal law. The business is not required to file a federal income tax return; instead, it passes profits and losses through to the partners who report the amounts on their personal federal income tax returns and pay taxes on the amounts at their individual tax rates.Learn more about Corporations
Dollar General Corporation owns Dollar General stores, as of 2014. The chain of more than 10,000 stores in 40 U.S. states has its headquarters in Goodlettsville, Tennessee.Full Answer >
As of 2015, the phone number for General Electric consumer relations headquarters is 1-800-386-1215; the mailing address is P.O. Box 10736, Norfolk, Virginia, 23513-0736. General Electric major appliance consumers can reach the company at 1-800-626-2005 or through the GE appliance website email form. Small appliance consumers should call 1-877-207-0923.Full Answer >
Automaker General Motors employs 202,000 people as of 2014. GM is one of the Big-3 automakers in the United States.Full Answer >
General Electric relies not only on a mission statement but on an equation: The company looks at what the world needs, multiplies it by a combination of "a better way" and a relentless drive to invent and build things that matter, which ultimately results in a world that works better.Full Answer >