In a limited partnership,a limited partner has full responsibility for the partnership and for all its debts.

Question

Quizplus · Accepted Answer

A limited partner is not responsible for the partnership's debts beyond their initial investment in the partnership. They have limited liability and are only liable up to the amount of their investment. The general partner(s) often hold full responsibility for the partnership and its debts.

In a Limited Partnership,a Limited Partner Has Full Responsibility for the Partnership