Match the term with its definition.
-A partner in a limited partnership who has unlimited personal liability

Question

Quizplus · Accepted Answer

A general partner is a partner in a limited partnership who has unlimited personal liability.

Answer: D
 A limited liability company is a business structure that combines the liability protection of a corporation with the simplicity of a partnership.

Answer: E
 Limited partners are partners in a limited partnership who have limited liability and are not involved in the management of the business.

Answer: H
 A sole proprietorship is a business owned and operated by one person with no legal distinction between the business and the owner.

Answer: G
 A partnership agreement is a legal document that outlines the terms of a partnership and the responsibilities of each partner.

Answer: F
 A nonprofit corporation is a type of corporation organized for charitable, educational, religious, or scientific purposes.

Answer: C
 A legal entity is a business or organization that is recognized by law and has its own legal rights and liabilities.

Answer: A
 A board of directors is a group of individuals who are elected by shareholders to oversee the management of a corporation.

Answer: I
 A social network is an online platform or community that allows individuals to connect and interact with each other.

Match the Term with Its Definition