Consider the following statements:

A general partner participates actively in the running of the business.

A limited partner can participate actively in the running of the business but must abide by decisions of the general partner$($s$).$

A general partner can lose all of their investment but a limited partner cannot.

Which one of the following is correct?

$($A$)$ Statements $1,2$ and $3$ are true.

$($B$)$ Statements $1$ and $2$ are true; Statement $3$ is false.

$($C$)$ Statement $1$ is true; Statements $2$ and $3$ are false.

$($D$)$ Statements $1,2$ and $3$ are false.

Group of answer choices

D

B

A

C