In a partnership, the ________ partner(s)has (have)unlimited liability for the partnership's debts.
A)limited
B)dormant
C)nominal
D)general

Question

Quizplus · Accepted Answer

General partners have unlimited liability for the partnership's debts. This means that if the partnership cannot pay its debts, the general partners are personally responsible for the full amount owed. Limited partners, on the other hand, have limited liability and are only responsible for the amount of their investment in the partnership. Dormant and nominal partners do not have any liability for the partnership's debts, as they are not actively involved in the partnership's operations.

In a Partnership, the ________ Partner(s)has (Have)unlimited Liability for the Partnership's