Karl Metzger plans to invest $5,000 in a partnership with his brother to produce and sell handcrafted violins,zithers,and other string instruments.Metzger does not plan to work in the business and wants no more liability than his investment.What should he be?

Question

Quizplus · Accepted Answer

A limited partner has limited liability and is not involved in the day-to-day operations of the business. In addition, they do not have the same level of decision-making power as a general partner. This matches Metzger's desired level of involvement and liability.

Karl Metzger Plans to Invest $5,000 in a Partnership with His