Describe What Is Meant by a "General Partnership" and a "Limited

question 17

Essay

Describe what is meant by a "general partnership" and a "limited partnership." Describe the major difference between the two.

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Definitions:

Ethical Dilemma

A situation where a difficult choice has to be made between two or more conflicting moral principles.

Judgments

Assessments or opinions formed about something, not necessarily based on fact or knowledge.

Indisputable Facts

Information or statements that are accepted as true and cannot be argued against or disputed.

Ethical Thinking

The process of considering actions and decisions in terms of moral values and principles.