Question

Which is one important difference between a general partnership and a limited partnership?

Answer 1

Every partner in a genral partnership is fully reposnabie for the busines 's debts.

Step-by-step explanation:

Answer 2

In a general partnership, all partners share joint and full responsibility for the financial dealings of the partnership, meaning that if the partnership is sued, the general partners are financially responsible. A limited partnership has both general partners and limited partners. The limited partners are insulated from a majority of financial responsibilities that fall on the general partner.