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24 June, 05:48

which of the following is one importany difference between a general partnership and a limited partnership?

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  1. 24 June, 06:03
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    The difference is that in a general partnership every partner is fully responsible for the business's debts.

    Explanation:

    The business arrangement where at least two people are proprietor of a business is called general partnership. Every partner has equal power in general partnership. A limited partnership is different from a general partnership in that it requires a partnership agreement. A limited partnership has the provision of limited and general partners A limited partner does not have the power to operate the business. They are the investors. The general partners have the jurisdiction to run the business.
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