In a general partnership,the general partners have
A) Limited liability
B) Unlimited liability
C) No liability
D) Minimal liability
E) It depends on the partners' decision

Question

Quizplus · Accepted Answer

In a general partnership, general partners have unlimited liability. This means that they are personally responsible for all debts and obligations of the partnership, even if it exceeds their personal investment. This can put their personal assets at risk if the partnership fails to meet its obligations.

In a General Partnership,the General Partners Have