what happens in a general partnership, but not a limited partnership?\no there is only partner who is…

what happens in a general partnership, but not a limited partnership?\no there is only partner who is responsible for the businesss debts.\no each partner may own as much of the companys profit\no each partner is fully responsible for all the businesss debts.\no it requires all partners to make the business decisions collectively.

what happens in a general partnership, but not a limited partnership?\no there is only partner who is responsible for the businesss debts.\no each partner may own as much of the companys profit\no each partner is fully responsible for all the businesss debts.\no it requires all partners to make the business decisions collectively.

Answer

Brief Explanations:

In a general partnership, each partner has unlimited liability and is fully responsible for all the business's debts. In a limited - partnership, limited partners have limited liability and are not fully responsible for all debts. The first option is incorrect as in a general partnership all partners can be liable, not just one. The second option is a feature of both types of partnerships. The fourth option is not exclusive to general partnerships as limited partnerships may also have collective decision - making in some aspects.

Answer:

Each partner is fully responsible for all the business's debts.