Question

My sister and I co-own a small women’s fashion brand company. We both invested equal amounts of money into the company with equal unlimited liability. She does the designing and I handle the business side of the company. My sister’s role would be that of a __________.

a. Company president
b. Limited partner
c. General partner
d. Corporate executive officer (CEO)
e. Sole proprietor

Answer 1

You sister's role would be that of a "General partner".

Step-by-step explanation:

General partner is an owner of the partnership. She/He possesses equal rights as you. The only difference is the responsibility that each one has taken.

Active in the day-today operations

President: He/ she is the second in-charge person next to CEO.

Limited partner: This option is invalid since the limited partner is the silent partner in terms of business.

CEO: Normally a CEO is a person who has complete responsibility over the operations of the organization. He may or may not be the sole proprietor.

Sole proprietor: In simple terms it can be defined as "single owner".