Which of the Following Types of Partnerships Limits the Partner's

question 60

Multiple Choice

Which of the following types of partnerships limits the partner's risk of losing their personal assets to only their own acts and omissions and to the acts and omissions of people under their supervision?

• A) General partnership
• B) Limited partnership
• C) Master limited partnership
• D) Limited liability partnership

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Definitions:

Japanese Internment

The forced relocation and confinement of Japanese-Americans to concentration camps in the western interior of the United States during World War II by order of the U.S. government.

Military Spending

Financial resources allocated by a government or state for the maintenance and operation of armed forces.

Economic Development

The process through which a nation improves the economic, political, and social well-being of its people, often through targeted policies and programs to stimulate growth and reduce poverty.

West

Refers to the western part of the United States, which was characterized by its frontier and expansionist period during the 19th century, playing a significant role in the nation's development.