Question
Constantine and William are in business selling cell phones. Both have contributes $ 10,000 to the business. Constantine runs the day -to-day operations of the
Constantine and William are in business selling cell phones. Both have contributes $ 10,000 to the business. Constantine runs the day -to-day operations of the business parnership and makes the decision s on its direction, Constantine and William signed a partnership agreement stating that Williamwould be liable for debts of the partnership only up to his $ 10,000 constribution. Which is true of this arrangement? a) Constantine is a limited partner and William is a general partner. b) Both Constantine and William are general partners. c) Constantine is a general partner, and William is a limited partner. d) Both Constantine and William are limited partners.
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