Glossamer Inc., a company owned by George and Alex, faces huge debts and is eventually shut down due to bankruptcy. The company's financial loss affects Alex personally, and his house and other personal assets are seized by the bank. However, George's personal assets are not affected. This is most likely because George is a(n) _____.

Question

Quizplus · Accepted Answer

A limited partner has limited liability, meaning their personal assets are protected from the company's debts, unlike a general partner.