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Directions: Choose the best answer based on the information you read in Chapter 10. Which of the following activities can help a student plan a personal narrative?
General Partner
A partner who takes an active part in running a partnership and has unlimited liability for the firm’s debts.
Liability
The legal responsibility to settle debts or obligations, which may arise from contracts, torts, or statutory duties.
Management Duties
The responsibilities and tasks assigned to the management of an organization, including decision-making, planning, staffing, directing, and controlling.
Limited Partners
Individuals in a partnership who invest money but are not involved in day-to-day management, and whose liability is limited to the amount of their investment.
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