Multiple Choice
Chris and Paul operate a business in which both have contributed $50,000 to the businesses capitalization.Chris makes all business decisions and Paul made Chris sign a partnership agreement saying that Paul is only liable for partnership debts up to $50,000.
A) both are general partners
B) Chris is a general partner and Paul is a limited partner
C) Paul is a general partner and Chris is a limited partner
D) both are limited partners
Correct Answer:
Verified
Correct Answer:
Verified
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