A Partnership That Has at Least Two Classes of Partners,general

question 23

Short Answer

A partnership that has at least two classes of partners,general and limited,that 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:

Transactional Relationship

A business relationship focused primarily on the exchange of goods or services for payment, with little personal connection.

Distinct Component

a unique and identifiable part of a larger system or product, which serves a specific function and is often necessary for the overall operation or effectiveness.

Sales Call

A communication, either via telephone or face-to-face, initiated by a salesperson towards a potential or existing customer with the objective of making a sale.

Logical Sequence

An arrangement of ideas or actions in a coherent order that follows clear and rational progression.