The two types of partnerships are __________ and __________.
A) proprietorship; corporation
B) specific; general
C) general; limited
D) limited; specific

Question

Quizplus · Accepted Answer

The two types of partnerships are general partnership and limited partnership. In a general partnership, all partners are equally responsible for the management of the business and share profits and losses equally. In a limited partnership, there are both general partners who have control over the management of the business and limited partners who do not have control but have limited liability for the debts and obligations of the partnership.

The Two Types of Partnerships Are __________ and __________

The Two Types of Partnerships Are and