Question

Mary, Nick, and Owen want to form a limited partnership to manage MN&O Services. A limited partnership must have at least:
A. one general partner and one limited partner.
B. two limited partners.
C. none of the above.
D. one general partner and two limited partners.

Answer 1

Answer:

The answer is A. The company must have One general partner and at least one limited partner.

Explanation:

To register  a limited partnership, there must be at least a general partner who manages and run the whole business and who has an unlimited liability of the business and at least a limited partner whose liability are limited and bounded to the amount of shares or investment in the business.