The Basics of Partnerships: Types & Examples


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question 1 of 3

Which one of the following is the partnership document that governs the rights and responsibilities of the partners?

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1. What type of partnership offers no protection from personal liability for the partners?

2. What type of partnership has a general partner who has full liability and a limited partner whose liability is limited to their investment in the partnership?

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About This Quiz & Worksheet

This quiz and review worksheet can help you confirm your knowledge of the different partnerships that exist in the business world today.

Quiz & Worksheet Goals

This quiz/worksheet combo helps you review:

  • Partnership documents
  • Liability protection
  • Restricted liability
  • Differences between a limited partner and a general partner

Skills Practiced

This quiz and worksheet can help you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related business lesson
  • Information recall - access the knowledge you have gained regarding the management of rights and responsibilities
  • Distinguishing differences - compare and contrast main topics, such as a general partner and a limited partner

Additional Learning

To explore the topic of business partnerships, refer to the corresponding lesson, The Basics of Partnerships: Types & Examples. This lesson will help you:

  • Compare and contrast the advantages and disadvantages of various forms of partnership
  • Understanding how laws and regulations affect partnerships
  • Explore examples related to business partnerships
  • Learn about the roles of various types of partners