For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, and in Column 3 the financial statement that the account appears upon.
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Definitions:
General Partner
In a partnership, a member who has unlimited liability for the debts of the business and takes part in its management.
Limited Partner
An investor in a partnership who has limited liability to the extent of their investment and does not take part in the day-to-day management of the business.
Letterhead
The heading at the top of a sheet of letter paper, usually consisting of a name and an address, and often a logo.
Limited Partner
An investor in a partnership who is not directly involved in its daily operations and whose liability is limited to the amount invested.
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