Asked by Breanna Beaver on Apr 25, 2024
What type of partner in a Limited Liability Limited Partnership (LLLP) contributes capital and manages the business.
A) General Partner
B) Limited Partner
C) Foreign Partner
D) Domestic Partner
General Partner
An owner of a partnership who has unlimited liability and is responsible for managing the business.
Contributes Capital
The act of providing financial resources or assets to a business or investment with the expectation of gaining a return.
- Characterize the differences in partnership forms, with emphasis on the obligations and roles of the partners.
Learning Objectives
- Characterize the differences in partnership forms, with emphasis on the obligations and roles of the partners.