A general partner:
A) has less legal liability than a limited partner.
B) has more management responsibility than a limited partner.
C) faces double taxation whereas a limited partner does not.
D) cannot lose more than the amount of his/her equity investment.
E) is the term applied only to corporations which invest in partnerships.

Question

Quizplus · Accepted Answer

A general partner has more management responsibility than a limited partner. Limited partners have limited liability and are not involved in management decisions.

A General Partner