In a Limited Partnership, Which Partner Remains Bound by All

question 76

Multiple Choice

In a limited partnership, which partner remains bound by all debts of the business?

• A)Limited partner.
• B)Special partner.
• C)Partner with the greatest capital investment.
• D)General partner.

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Definitions:

Long Run

A period of time in economics during which all factors of production and costs are variable, allowing for full industry adjustment to changes in market conditions.

Losses

Losses refer to the amount by which expenses exceed revenues in a particular period, indicating a negative financial performance for a business.

Constant-cost Industry

An industry in which the costs of production, including the prices of raw materials and wages, do not change as the industry's output changes.

Long-run Equilibrium

A state in which all factors of production and costs are variable, allowing for full adjustment to any changes in the market.