In which of the following types of ownership do all partners have the right to actively participate in the management of the firm and to share in any profits or losses incurred by the business?
A) general partnership
B) limited liability partnership
C) limited partnership
D) sole proprietorship

Question

Quizplus · Accepted Answer

In a general partnership, all partners have an equal say in the management of the business and share in any profits or losses. This type of ownership also means that each partner is responsible for the partnership's debts and obligations.

In Which of the Following Types of Ownership Do All