Pearson eText Business in Action -- Instant Access (Pearson+)
Pearson eText Business in Action -- Instant Access (Pearson+)
9th Edition
ISBN: 9780135636459
Author: Courtland Bovee, John Thill
Publisher: PEARSON+
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Chapter 5, Problem 6QR
Summary Introduction

To discuss: Differences between limited partnership and general partnership.

Limited partnership is the partnership two or more partners acting as general partners who runs the business and having unlimited liability as sole proprietors.

General partnership is the partnership all the partners have an authority to take decisions for firm and joint liability of all financial obligations.

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