Unlike a limited partnership, a general partnership has which of the following?
O A. An unlimited number of partners.
B. Option to declare bankruptcy without penalty.
C. Unlimited liability for all partners.
D. Stockholders and a board of directors.

A general partner has unlimited liability to the debts of the business. It follows that in a general partnership business, all partners will have unlimited liability to business debts.

A general partnership is not a separate entity from its owners. Assets and liabilities of the business will be treated as those of the partners. Should the business fail in paying its debts, the partners' personal properties may be sold to clear the debts.

Unlike a limited partnership, a general partnership has which of the following? O A. An unlimited number of partners. B. Option to declare bankruptcy without penalty. C. Unlimited liability for all partners. D. Stockholders and a board of directors.

Respuesta :

Otras preguntas

Unlike a limited partnership, a general partnership has which of the following?
O A. An unlimited number of partners.
B. Option to declare bankruptcy without penalty.
C. Unlimited liability for all partners.
D. Stockholders and a board of directors.