Q952
Limited partners in partnership business have
A.
no control
AnswerB.
whole control
C.
corporate authority
D.
general authority
Answer: Option A
Solution
Answer: Option A
Solution:
Limited partners in partnership business have no control. Limited partnerships consist of partners who maintain an active role in the management of the business, and those who just invest money and have a very limited role in management. These limited partners are essentially passive investors whose liability is limited to their initial investment. Limited partnerships have more formal requirements than the other two types of partnerships.