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Which of the following best describes the term 'limited partner' in a partnership?

Practice Questions

1 question
Q1
Which of the following best describes the term 'limited partner' in a partnership?
  1. A partner who has unlimited liability
  2. A partner who contributes capital but has limited involvement in management
  3. A partner who manages the business and has full control
  4. A partner who is only involved in decision-making

Questions & Step-by-step Solutions

1 item
Q
Q: Which of the following best describes the term 'limited partner' in a partnership?
Solution: A limited partner contributes capital but does not participate in the management of the business, thus limiting their liability.
Steps: 0

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