Final answer:
In a limited partnership, only one partner is required to be a general partner, while the other partners are limited partners. The general partner has control and is personally liable for the partnership's debts, while the limited partners have limited liability and are not personally responsible for the partnership's debts.
Step-by-step explanation:
A limited partnership is a type of business organization where only one partner is required to be a general partner. The general partner has full management control and is personally liable for the debts and obligations of the partnership. However, some limited partners contribute capital to the business but have limited involvement in the day-to-day operations. Limited partners have limited liability and are not personally responsible for the partnership's debts beyond their capital contributions.