A general partner: a. Has a maximum...
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Accounting
| A general partner: |
| a. Has a maximum loss equal to his or her equity investment. |
b.
| Faces double taxation whereas a limited partner does not. |
c.
| Is personally responsible for all the partnership debts. |
| d. Receives a salary in lieu of a portion of the profits. |
| e. Has no say over a firm's daily operations. |
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