In a partnership,a(n)__________partner is an owner who is active in managing the company and has unlimited liability for claims against the firm.
A)unlimited
B)general
C)limited
D)associate

Question

Quizplus · Accepted Answer

A general partner is an owner who is active in managing the company and has unlimited liability for claims against the firm. Limited partners have limited liability and are not involved in managing the company. Associate partners do not typically have ownership or management responsibilities in a partnership. Unlimited partners do not exist as a recognized type of partner.

In a Partnership,a(n)__________partner Is an Owner Who Is Active in Managing