A limited partnership is comprised of:
A) only limited partners
B) only general partners
C) both general and limited partners
D) both partners and proprietors

Question

Quizplus · Accepted Answer

A limited partnership is formed by one or more general partners who manage the business and are personally liable for its debts, and one or more limited partners who contribute capital to the business but do not participate in its management and are only liable for the amount of their investment. Therefore, a limited partnership is comprised of both general and limited partners.

A Limited Partnership Is Comprised Of