Question
Which of the following accurately describes a limited partner in a partnership? A partner who is not personally liable for partnership debts beyond the amount
Which of the following accurately describes a limited partner in a partnership?
A partner who is not personally liable for partnership debts beyond the amount of money or other property that the partner contributed to the partnership.
A partner who is personally liable for partnership debts.
A partner who can act on behalf of the business without the knowledge or permission of the other partners.
A partner who participates in the daily running of the business or in making business decisions.
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Frank Woods Business Accounting An Introduction To Financial Accounting
Authors: Alan Sangster, Lewis Gordon, Frank Wood
15th Edition
1292365439, 9781292365435
