The _____ in a limited partnership has(have) limited involvement in the business and suffer loss only to the extent of their business investments.
A)limited partners
B)general partner
C)senior partner
D)managing partner

Question

Quizplus · Accepted Answer

Limited partners are investors who have limited involvement in the business operations and are liable for losses only up to the amount of their investment in the partnership. In contrast, general partners are actively involved in managing the business and have unlimited personal liability for the partnership's debts and obligations. Senior and managing partners are not terms typically used in reference to limited partnerships.

The _____ in a Limited Partnership Has(have) Limited Involvement in the Business