of the profits and the general partner earning 90%
. While the general partner enjoys greater earnings, what is the disadvantage of being a general partner?(1 point)
Responses
The general partner has unlimited liability.
The general partner has unlimited liability.
The general partner has less business experience than the others.
The general partner has less business experience than the others.
The general partner has likely invested more into the business.
The general partner has likely invested more into the business.
The general partner has little control over business decisions.
1 answer
The correct response is:
The general partner has unlimited liability.
In a limited partnership, the general partner is responsible for the debts and obligations of the business without any limitation, which is a significant disadvantage compared to the limited partners who have liability restricted to the amount of their investment.
