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Which of the following best describes a limited partnership?

Practice Questions

1 question
Q1
Which of the following best describes a limited partnership?
  1. All partners have unlimited liability.
  2. Only one partner has unlimited liability.
  3. All partners are involved in management.
  4. Partners share profits equally.

Questions & Step-by-step Solutions

1 item
Q
Q: Which of the following best describes a limited partnership?
Solution: In a limited partnership, only one partner has unlimited liability while others have limited liability.
Steps: 0

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