Jim Is One of Several General Partners Who Own Beef

Multiple Choice

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:

A) offer shares of ownership that are traded on a stock exchange much like a corporation.
B) pay its taxes like a corporation.
C) begin to operate much like a sole proprietorship.
D) have to change its name to include the term Ltd. in its title to indicate its owners have limited liability.