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Which of the following is one important difference between a ge…

  • Question 20b of 25 - Businesses and partnerships

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of the following is one important difference between a general partnership and a limited partnership?
  • Answers:
  1. A limited partnership allows some business decisions to be made individually.
  2. Every partner in a general partnership is fully responsible for the business's debts.
  3. The partners in a limited partnership may only own a small percentage of the company's stock.
  4. A limited partnership makes a single partner fully responsible for all of the business's debts.

The correct answer is: Every partner in a general partnership is fully responsible for the business's debts.

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