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What is the name for the relationship established between a partner who has management responsibility for the partnership and assumes unlimited personal liability for the
What is the name for the relationship established between a partner who has management responsibility for the partnership and assumes unlimited personal liability for the debts of the partnership, and a partner who assumes no liability for the partnership beyond the capital he or she invested in the business?
Multiple Choice
A general partnership.
A limited liability partnership.
A dissolved partnership.
A wrongfully dissolved partnership.
A limited partnership.
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Managerial Accounting
Authors: Ramji Balakrishnan, Konduru Sivaramakrishnan, Geoff B. Sprinkle
2nd edition
1118385381, 978-1118385388
