Which of the following accurately describes a general partner in a partnership?

A- A partner who is personaly liable for partnership debts only up to the amount of money or other property that the partner contributed to the partnership.

B- A partner who is personally liable for the partnership's nonrecourse loans.

C- A partner who is personally liable for partnership debts.

D- A partner who adheres to generally accepted accounting

Solutions

Expert Solution

The correct answer is option C i.e a general partner in a partnership is A partner who is personally liable for partnership debts.

Limited partner is A partner who is personaly liable for partnership debts only up to the amount of money or other property that the partner contributed to the partnership.

ekkarill92 answered 1 year ago

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