If a partner is a limited partner it means that there are limits on his/her:
A) right to share in profits and losses.
B) liability for partnership debts.
C) obligation to contribute capital.
D) management rights.

Question

Quizplus · Accepted Answer

As a limited partner, the individual's liability for partnership debts is limited to the amount of capital they have contributed. They do not have unlimited liability like a general partner. However, they also have limited management rights and may not have the same level of control over partnership decisions as a general partner. Their right to share in profits and losses as well as their obligation to contribute capital may also be limited depending on the terms of the partnership agreement.

If a Partner Is a Limited Partner It Means That