In a general partnership,all owners share in both management of the business and in the assumption of liability for the firm's debts.

Name: In a general partnership,all owners share in both management of the business and in the assumption of liability for the firm's debts.
Brand: Quizplus
Rating: 4.9 (34 reviews)

Question

Quizplus · Accepted Answer

In a general partnership, all partners have equal responsibility for managing the business and are personally liable for the debts and obligations of the partnership.

In a General Partnership,all Owners Share in Both Management of the Business