Examlex
Regarding telephone therapists, which of the following statements is/are TRUE?
General Partner
An owner of a partnership who has unlimited personal liability for the debts and obligations of the partnership.
Limited Liability Limited Partnership
A form of partnership that offers limited liability to some partners (limited partners) and allows others (general partners) to operate the partnership with limited liability as well.
General Partners
Individuals in a partnership who are responsible for managing the business and are personally liable for its debts.
Liability
Refers to the state of being legally responsible for something, particularly in reference to debts or legal obligations.
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