Which of the following describes an important difference between general partnerships

and limited partnerships?

A. Shares in a general partnership can be purchases anywhere while shares in

a limited partnership can only be purchased through a stock exchange.

B. A general partnership has unlimited liability for all partners while a limited

partnership has limited liability.

C. There are a maximum of three partners in a limited partnership while a

general partnership can have any number of partners.

D. A general partnership has stockholders while a limited partnership has a

small group of investors.

Question

Macie

History

18 January, 20:41

Which of the following describes an important difference between general partnerships

and limited partnerships?

A. Shares in a general partnership can be purchases anywhere while shares in

a limited partnership can only be purchased through a stock exchange.

B. A general partnership has unlimited liability for all partners while a limited

partnership has limited liability.

C. There are a maximum of three partners in a limited partnership while a

general partnership can have any number of partners.

D. A general partnership has stockholders while a limited partnership has a

small group of investors.

+5

Answers (1)

Know the Answer?

Mira Krause · Answer 1

the answer is B

Explanation:

Which describes an important difference between general partnerships and limited partnerships? A general partnership has unlimited liability for all partners while a limited partnership has limited liability. Each partner is responsible for only a portion of the business's debts.