Question

What kind of business organization are caleb and anna operating under now? a limited partnership. a sole proprietorship. a general partnership. a corporation?

Answer 1

Answer is Limited Partnership.

We need to know about the meaning of partnership and limited partnership. Partnership is simply an agreement between two or more people or companies, to conduct the business mutually and share the profits. Now there are many types of partnership like Limited Partnership, General Partnership, Sole Proprietorship and Corporation.

So a Limited Partnership is a Partnership in which one of the partner is the general partner who is responsible for the debts and unlimited liabilities of the company. Whereas the other partner is the silent or sleeping partner who confronts limited debts and liabilities.

Answer 2

Answer is "A Limited Partnership".

A Limited Partnership is an association comprising of a general partner, who deals with the business and has boundless individual risk for the obligations and commitments of the Limited Partnership, and a restricted partner, who has constrained risk yet can't take an interest in administration.