A limited partnership is an agreement between two or more individuals to operate a business as coowners for a limited period of time.

Question

A limited partnership is an agreement between two or more individuals to operate a business as co­owners for a limited period of time.

Quizplus · Accepted Answer

A limited partnership is a business structure where there are both general and limited partners, not necessarily for a limited period of time. General partners manage the business and are liable for debts, while limited partners contribute capital and have limited liability.

A Limited Partnership Is an Agreement Between Two or More