The Difference Between a Limited Partnership and a General Partnership

question 55

True/False

The difference between a limited partnership and a general partnership is that a limited partnership has partners who actively manage the day-to-day operations but also has passive investors.

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Definitions:

Registered Public Company

A business entity that has completed the required processes to offer its shares to the general public through a stock exchange.

Pay Bills Form

A document or online interface through which individuals or businesses submit payment for outstanding invoices.

Expense Form

A document used by employees to report out-of-pocket expenses for which they request reimbursement.

Check Form

A document used to authorize a bank to pay a specified sum of money from the account holder's account to a named individual or entity.