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Question
When a business owner forms a master limited partnership, what responsibilities does the master partner have toward the minority partner(s)?
A) The master partner must provide detailed operating and financial reports.
B) The master partner must allow the partners to decide all major business changes and transactions.
C) The master partner must make all liabilities clear before the partnership is formed.
D) The master partner must give up majority ownership.
E) The master partner must allow the partners to take an active role in the business.
Answer
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