A limited partnership:
A) Includes a general partner with unlimited liability.
B) Is subject to double taxation.
C) Has owners called sharesholders.
D) Is the same as a corporation.
E) May only have two partners.

Question

Quizplus · Accepted Answer

A limited partnership includes a general partner with unlimited liability, which means they are personally responsible for the debts and obligations of the partnership. The limited partners have limited liability and are typically only liable to the extent of their investment in the partnership.

A Limited Partnership