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Which one of the following statements about a limited partnership is correct?A) All partners have their losses limited to their capital investment in the partnershipB) All patterns are treated equallyC) There must be at least one general partnerD) Equity financing is easy to obtain and unlimitedE) Any partner can transfer his or her ownership interest without ending the partnership

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Answer:

The correct answer is letter "C": There must be at least one general partner.

Explanation:

A Limited Partnership involves two or more partners conducting business but only one is liable for his capital investment. This character is called a general partner and could be more than one in a given company. Limited partnerships are also called silent partnerships or limited liability partnerships.

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