composed of one or more general partners and one or more limited partners. The general partners manage the business and share fully in its profits and losses. Limited partners share in the profits of the business, but their losses are limited to the extent of their investment

🎲 Try a Random Question  |  Total Questions in Quiz: 64  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
NOCTI Business — practice the complete quiz, review flashcards, or try a random question.


1. composed of one or more general partners and one or more limited partners. The general partners manage the business and share fully in its profits and losses. Limited partners share in the profits of the business, but their losses are limited to the extent of their investment