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Florida Real Estate Course
Chapter 6
Florida Real Estate Practice Question
What is the primary difference in liability between a general partnership and a limited partnership?
Answer choices
A
In a general partnership, only the managing partners are liable, while in a limited partnership, all investors share equal full liability
B
In a general partnership, every partner is personally liable for the company's debts, whereas in a limited partnership, limited partners' liability is restricted to their investment amount
C
Both general and limited partnerships offer full personal liability protection for all partners, similar to a corporation
D
A general partnership is a prohibited structure where brokers share an office without a formal agreement, while a limited partnership is legally recognized
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