Limited partnershipsA) must have at least one general partner.B) guarantee that a partner will receive a return.C) guarantee that a partner will get back his original investment.D) are limited to only three partners.

Question

Limited partnershipsA)  must have at least one general partner.B)  guarantee that a partner will receive a return.C)  guarantee that a partner will get back his original investment.D)  are limited to only three partners.

Manmehak Dhaliwal · Accepted Answer

Final Answer : A, Explanation :  Limited partnerships must have at least one general partner who is responsible for managing the partnership and has unlimited liability. The limited partners, on the other hand, have limited liability and are not involved in management. Limited partnerships do not guarantee a return or the return of the original investment. There is no limit to the number of partners in a limited partnership.

Limited partnerships

A) must have at least one general partner.
B) guarantee that a partner will receive a return.
C) guarantee that a partner will get back his original investment.
D) are limited to only three partners.

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Learning Objectives

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