A Partnership That Has at Least Two Classes of Partners

question 68

Short Answer

A partnership that has at least two classes of partners, general and limited, allows the limited partners to have no personal liability beyond the amounts they invest in the partnership, and the limited partners have no active role except as specified in the partnership agreement is a __________partnership.

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Definitions:

Peripheral Countries

Countries often characterized by their marginal position within the global economic system, typically having less developed economies and depending on core countries for capital.

Raw Materials

The basic material from which a product is made, typically referring to natural resources that are used in production.

GDP

Gross Domestic Product, a monetary measure of the market value of all final goods and services produced in a period by a country.

U.S. Economy

The U.S. economy, one of the world's largest, is characterized by a high level of output per capita and a diverse array of industries including technology, finance, and services.