A general partner:

A) Has less legal liability than a limited partner.
B) Has more management responsibility than a limited partner.
C) Faces double taxation whereas a limited partner does not.
D) Cannot lose more than the amount of his/her equity investment.
E) Is the term applied only to corporations which invest in partnerships.

General Partner

An owner of a partnership who has unlimited liability and is typically involved in the daily operations of the business.

Management Responsibility

The obligation of organization leaders to make decisions, direct operations, and ensure the achievement of organizational goals.

Equity Investment

Refers to the purchase of shares of stock in a company, representing ownership interest or stake in that company.