In a general partnership,the general partners have ________ liability for the firm's debts and have ________ control over day-to-day operations.
A)limited; no
B)unlimited; total
C)limited; total
D)unlimited; no
E)unlimited; limited

Question

Quizplus · Accepted Answer

In a general partnership, the general partners have unlimited liability for the firm's debts, meaning they are personally responsible for any debts the firm cannot pay. They also have total control over day-to-day operations, as there is no separation between ownership and management in a general partnership.

In a General Partnership,the General Partners Have ________ Liability for the Firm's