Question 2 Which one of the following statements is NOT true? 3 pts The difference between a limited partnership and a general partnership is that a limited partnership has partners who actively manage the day-to-day operations but also has passive investors. In a C corporate legal entity, the personal assets of the owners are separate from the assets of the business. Limited liability in the corporate business structure means creditors can seize only some of the assets of the corporation. The number of shareholders of an S corporation are limited.