A limited partnership is a ________ in the state in which it is organized.

Question

Quizplus · Accepted Answer

A limited partnership is a partnership that has at least one general partner who manages the business and at least one limited partner who invests but does not participate in the management. A limited partnership is organized under state law so it must be registered in the state in which it is organized. The term "domestic" is used to refer to a limited partnership that is organized in a specific state. Therefore, option C is the correct answer.

A Limited Partnership Is a ________ in the State in Which