Surveying FS

Answer: A - A general partnership is a form of business in which two or more persons carry on business as co-owners for profit and are personally liable for all debts of the partnership.

A limited partnership is a business entity with one or more general partners who manage the business and are personally liable for partnership debts. Additionally, one or more limited partners contribute capital and share in profits, but take no part in running the business and incur no liability with respect to the partnership obligations beyond contribution.

A limited liability partnership is a business entity in which all partners have a form of limited liability and partners can be directly involved in managing the business.