Which of the Following Explains the Difference Between Limited Partnership

question 37

Multiple Choice

Which of the following explains the difference between limited partnership and general partnership?

• A) In limited partnerships,all partners are equally liable to the firm's debt unlike general partnerships.
• B) In limited partnerships,partners incur single taxation on earnings unlike general partnerships.
• C) In general partnerships,whenever the mix of partners is changed,that partnership is dissolved unlike limited partnerships.
• D) In general partnerships,no government permission is required for the setup and maintenance of business unlike limited partnerships.

---

Definitions:

Scalawag

A term used during the Reconstruction era in the United States to describe Southern whites who supported Reconstruction and the Republican Party, often used derogatorily.

Republicans

Refers to members or supporters of the Republican Party, one of the two major political parties in the United States, typically associated with conservative political ideologies.

White Southerner

A term referring to individuals of European descent living in the southern United States, especially noted in historical contexts involving social and racial dynamics.

Reconstruction Act

Legislation passed in 1867 that laid out the process for readmitting Southern states into the Union following the Civil War, including requirements for suffrage and civil rights.