Question

At Sound Off!, a store that buys and sells used CDs, there is only one general partner, Sonia. She spends all her time running the business, and makes all the decisions. Sonia's mother and brother put up money for her to buy the store, but they work full time at other jobs and have no management say in the running of Sound Off!, but share in some of the profits. This is an example of a

a.general partnership
b.master limited partnership
c.S corporation
d.limited partnership

Answer 1

d.limited partnership

Step-by-step explanation:

Limited partnership -

This type of partnership consists of a general partner , who have the unlimited liability of the company's obligations and debt .

In this case , the limited partnership can take only limited members , where the liability is limited with respect to the investment in the company .

Hence m the example shown in the question , is of d. limited partnership .