BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The general partners bear 100% of the risk of liability for the debts of the business, the limited partners risk only their capital contributions, and nothing more. Limited partners may not take a role in the management of the business.

Detailed explanation-2: -General partnerships are made up of the two or more persons, called general partners, who enter an agreement to conduct business for a profit. General partners have a fiduciary duty of loyalty and trust to the other partners and must subordinate their personal interests to those of the partnership.

Detailed explanation-3: -The main difference between these partnerships is that general partners have full operational control of a business and unlimited liability in the business sense. Limited partners have less liability and do not take part in day-to-day business operations.

Detailed explanation-4: -A partnership is an arrangement between two or more people to oversee business operations and share its profits and liabilities. In a general partnership company, all members share both profits and liabilities. Professionals like doctors and lawyers often form a limited liability partnership.