In a limited partnership,:
A) general partners cannot actively participate in the management of the business.
B) limited partners risk their personal wealth.
C) limited partners have the right to participate fully in managing their company.
D) general partners assume unlimited personal liability for the business's debts.

Question

Quizplus · Accepted Answer

General partners in a limited partnership have unlimited personal liability for the business's debts, while limited partners have liability limited to their investment and typically do not participate in management.

In a Limited Partnership