CHILD DEVELOPMENT PEDAGOGY

Detailed explanation-1: -In a limited partnership, at least one partner possesses unlimited liability (the general partner) while the other partners are subject to limited liability (limited partners).

Detailed explanation-2: -Businesses that form a limited partnership generally do so to own or operate a set of specific assets, such as a real estate investment partnership or LP for managing oil pipelines. One party (the general partner) has control over the assets and management responsibilities, but also are personally liable.

Detailed explanation-3: -A limited partnership has two types of partners: general partners and limited partners. It must have one or more of each type. All partner, limited and general, share the profits of the business.

Detailed explanation-4: -The difference between a general partner vs. limited partner is a general partner is an owner of the partnership, and a limited partner is a silent partner in the business. A general partner is an owner of a partnership.

Detailed explanation-5: -An LP is a form of partnership that has two types of partners: a general partner and limited partners. There has to be at least one general partner and at least one limited partner in every LP.