Question

which of the following describes an important difference between general partnership and limited partnerships

Answer 1

A general partnership has unlimited liability for all partners while a limited partnership has limited liability

Step-by-step explanation:

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Answer 2

The main difference between a general partnership and a limited partnership is that "A general partnership has unlimited liability for all partners while a limited partnership has limited liability." In addition, the liability of the personal assets in a general partnership is its obligation.