Solved

Which of the Following Explains the Difference Between Limited Partnership

Question 57

Multiple Choice

Which of the following explains the difference between limited partnership and general partnership?


A) In limited partnerships,all partners are equally liable to the firm's debt unlike general partnerships.
B) In limited partnerships,partners incur single taxation on earnings unlike general partnerships.
C) In general partnerships,whenever the mix of partners is changed,that partnership is dissolved unlike limited partnerships.
D) In general partnerships,no government permission is required for the setup and maintenance of business unlike limited partnerships.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents