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Which type of partnership is characterized by having limited partners who do not engage in day-to-day decision making, and a general partner who manages the business?
  • a)
    Limited partnership
  • b)
    General partnership
  • c)
    Limited liability partnership
  • d)
    Sole proprietorship
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Which type of partnership is characterized by having limited partners ...
A limited partnership is a type of partnership where there are both limited partners and a general partner. Limited partners have limited liability and do not participate in the business's management, while a general partner assumes full management responsibility.
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Which type of partnership is characterized by having limited partners who do not engage in day-to-day decision making, and a general partner who manages the business?a)Limited partnershipb)General partnershipc)Limited liability partnershipd)Sole proprietorshipCorrect answer is option 'A'. Can you explain this answer?
Question Description
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