20-30.Characteristic of the limited partnership form of property ownership include:

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The limited partnership form of property ownership involves at least one general partner who has unlimited liability for the business's debts and at least one limited partner who has limited liability. The limited partner's liability is restricted to the amount of their investment in the business. There is no existence of double taxation, and there is no restriction on the number of partners in a limited partnership business.

20-30Characteristic of the Limited Partnership Form of Property Ownership Include