Question

difference between general partnership and particular partnership ??

plz answer it and plz dont give naive answers....​

Answer 1

Answer:

A limited partnership is a relationship where one or more partners are not involved in the day-to-day management of the business.

A general partner may invest money into the company. However, a general partner may also be personally liable for the debts of the company, while the limited partner is not.

Answer 2

Explanation:

partnership with a company or another individual, it is important to know exactly what your roles, duties, and liabilities will be. When it comes to the two common types of partnerships that often get confused

general partnerships and limited partnerships – there are some key differences that will impact how each partner participates in the company.

General Partnerships

A general partnership is the most common type of partnership. It refers to a relationship in which all partners contribute to the day-to-day management of the business. Each partner will have the authority to make business decisions and even legally bind the company in contracts.

The liabilities, contributions, and responsibilities of the partners are often equal unless stated otherwise. Typically, a partnership agreement will describe which partners have certain authorities and responsibilities.

Limited Partnerships

A limited partnership is a relationship where one or more partners are not involved in the day-to-day management of the business. Often, a limited partner, sometimes known as a “silent partner,” will serve solely as an investor in the business, with the funds that they contribute being the extent of their liability. However, since the limited partner does not have decision-making power in the company, withdrawing funds – even just the amount they’ve already contributed – cannot be done without the approval of a general partner.