A limited partnership has two (2)types of partners: 1)general partners; and 2)limited partners.

Question

Quizplus · Accepted Answer

A limited partnership does indeed have two types of partners: general partners, who manage the business and have unlimited personal liability for the partnership's debts and obligations; and limited partners, who do not participate in managing the business and have limited liability for the partnership's debts and obligations.

A Limited Partnership Has Two (2)types of Partners: 1)general Partners;