In a limited partnership, one of the members must be

Assessment: WAEC SSCE - Commerce - 2006 (Objective) Subject: Commerce

Question 1 Report

In a limited partnership, one of the members must be
Answer Details
In a limited partnership, there are two types of partners: general partners and limited partners. The general partner is the person who manages the business and is responsible for its debts and obligations. The limited partner is a passive investor who has limited liability and is not involved in managing the business. Therefore, in a limited partnership, there must be at least one general partner who is responsible for the business's management and operation.

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