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8 April, 04:40

In a limited partnership:

A. general partners have limited liability for the firm's debts.

B. a certificate of limited partnership must be filed with the secretary of state's office.

C. limited partners are participating investors.

D. general partners take a limited part in the management of the firm.

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  1. 8 April, 08:01
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    B. a certificate of limited partnership must be filed with the secretary of state's office.

    Explanation:

    A limited partner does not actively run the business. However a general partner is in charge of day-to-day business operations. To be considered a limited partner, a certificate of limited partnership must be filed with the secretary of state's office. This partner would therefore not be personally liable for debts of the business; meaning, he/she will not sell his/her personal property to cover for the business losses.
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