In a partnership,a(n)__________ partner is an owner who is active in managing the company and has unlimited liability for claims against the firm.
A)unlimited
B)limited
C)general
D)associate

Question

Quizplus · Accepted Answer

A general partner is actively involved in managing the company and has unlimited liability for claims against the firm. Limited partners, on the other hand, are not involved in managing the company and have limited liability. Associate or unlimited partners are not commonly used terms in a partnership context.

In a Partnership,a(n)__________ Partner Is an Owner Who Is Active