Which of the following describes an important difference between general partnerships
and limited partnerships?
A. Shares in a general partnership can be purchases anywhere while shares in
a limited partnership can only be purchased through a stock exchange.
B. A general partnership has unlimited liability for all partners while a limited
partnership has limited liability.
C. There are a maximum of three partners in a limited partnership while a
general partnership can have any number of partners.
D. A general partnership has stockholders while a limited partnership has a
small group of investors.