21.6k views
0 votes
In a limited partnership:

A. general partners have limited liability for the firm's debts.

B. a certificate of limited partnership must be filed with the secretary of state's office.

C. limited partners are participating investors.

D. general partners take a limited part in the management of the firm.

User Vityanya
by
8.5k points

1 Answer

1 vote

Answer:

B. a certificate of limited partnership must be filed with the secretary of state's office.

Step-by-step explanation:

A limited partner does not actively run the business. However a general partner is in charge of day-to-day business operations. To be considered a limited partner, a certificate of limited partnership must be filed with the secretary of state's office. This partner would therefore not be personally liable for debts of the business; meaning, he/she will not sell his/her personal property to cover for the business losses.

User Josh Glover
by
7.8k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.