Asked by Nicholas Coombs on Apr 30, 2024
Verified
In a limited partnership,who has no part in the management of the business?
A) General partners
B) Limited partners
C) Special partners
D) General partners,limited partners,and special partners
E) General and special partners,but not limited partners
Limited Partners
Individuals in a partnership who invest money but are not involved in daily management, and whose liability is limited to the amount of their investment.
General Partners
General partners are individuals in a partnership who are responsible for the operations of the business and are personally liable for the partnership's debts and obligations.
Management
The process or practice of directing and controlling a group or organization towards achieving set goals or objectives.
- Identify the distinctions in liability and operational control between general and limited partners.
Verified Answer
DG
Dahryl GrantMay 06, 2024
Final Answer :
B
Explanation :
In a limited partnership,limited partners do not have any part in the management of the company.
Learning Objectives
- Identify the distinctions in liability and operational control between general and limited partners.