The partners who manage the limited partnership and are personally liable for the firm debts are __________ partners.

Question

Quizplus · Accepted Answer

General partners in a limited partnership are responsible for managing the business and are personally liable for the firm's debts. They are different from limited partners, who do not participate in management and have limited liability for the partnership's debts.

B) active, C) licensed, and D) unreserved are not correct choices as they do not accurately describe the partners who are personally liable for the firm's debts in a limited partnership.

The Partners Who Manage the Limited Partnership and Are Personally