Which of the following partners is NOT a limited partner?
A)Mayumi, a partner in an engineering firm, entitled to 50% of the profits and responsible for 50% of losses.
B)Guan, a partner in an accounting firm with a guarantee that his partnership interest will be purchased by the other partners for a guaranteed minimum price of $150,000.
C)Ekatarina, a partner in a law firm who is only responsible for the first $50,000 of partnership losses.
D)Danyal, a partner in a construction company, who is reimbursed for any partnership losses by one of the other partners.

Question

Quizplus · Accepted Answer

Limited partners typically have limited liability and are not involved in the day-to-day management of the business. Mayumi, being responsible for 50% of the profits and losses, indicates active involvement and shared management responsibilities, characteristics of a general partner, not a limited partner.

Which of the Following Partners Is NOT a Limited Partner