Asked by
Carl Andrei Brigoli
on Dec 10, 2024Verified
Partnerships have alternative legal forms including all of the following except which of the following?
A) General Partnership.
B) Limited Partnership.
C) Subchapter S Partnership.
D) Limited Liability Partnership.
E) Limited Liability Company.
General Partnership
A type of partnership where all partners share equally in both the management responsibilities and the liabilities of the business.
Limited Partnership
A partnership with at least one general partner who manages the business and is liable for debts, and one or more limited partners who are only liable to the extent of their investment.
- Identify different legal forms of partnerships and their characteristics.
Verified Answer
JH
Learning Objectives
- Identify different legal forms of partnerships and their characteristics.