Which of the following is a characteristic of a limited partnership?

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A limited partnership is a type of partnership where there are one or more general partners who have unlimited liability and manage the business, and one or more limited partners who contribute capital but do not participate in management and have limited liability. Therefore, the correct characteristic of a limited partnership is D, where the liability of a limited partner is limited to his or her capital contribution. Choices A and B are incorrect because personal liability is unlimited for general partners, and the lifetime of the organization may be limited based on the partnership agreement. Choice C is incorrect because limited partners typically do not have control over daily management decisions.

Which of the Following Is a Characteristic of a Limited