What is the fundamental difference found in a limited partnership?
A) Only one partner is responsible for all of the partnership's losses
B) Both partners are responsible for all of the partnership's losses
C) Both partners are protected from being responsible for all of the partnership's losses
D) None of these

Question

Quizplus · Accepted Answer

In a limited partnership, one partner (the general partner) is responsible for all of the partnership's losses, while the other partners (the limited partners) are only responsible for the amount of money they have invested in the partnership.

What Is the Fundamental Difference Found in a Limited Partnership