Asked by
Mineka Robertson
on Nov 14, 2024Verified
The partner in a limited partnership that has unlimited liability is referred to as the
A) lead partner.
B) head partner.
C) general partner.
D) unlimited partner.
General Partner
A partner in a partnership responsible for management decisions, who has unlimited liability for the debts and obligations.
Limited Partnership
A business structure where one or more general partners manage the business and are personally liable, while limited partners invest but do not partake in management or bear as much liability.
- Comprehend the structural details and law-related characteristics of partnerships.
Verified Answer
MV
Learning Objectives
- Comprehend the structural details and law-related characteristics of partnerships.