Question

which of the following is one importany difference between a general partnership and a limited partnership?​

Answer 1

The difference is that in a general partnership every partner is fully responsible for the business's debts.

Step-by-step explanation:

• The business arrangement where at least two people are proprietor of a business is called general partnership.
• Every partner has equal power in general partnership.
• A limited partnership is different from a general partnership in that it requires a partnership agreement.
• A limited partnership has the provision of limited and general partners
• A limited partner does not have the power to operate the business.They are the investors.
• The general partners have the jurisdiction to run the business.