A limited partnership has limited partners who only invest money but do not have an active role in the operation of the business and are only liable for debts to the extent of their investment.

Question

Quizplus · Accepted Answer

A limited partnership is a type of partnership where there are both general partners and limited partners. The general partners are responsible for managing the business and are personally liable for its debts and obligations, while the limited partners are only liable up to the amount of their investment and have no role in the management of the business.

A Limited Partnership Has Limited Partners Who Only Invest Money