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Question
Which of the following explains the difference between limited partnership and general partnership?A. In limited partnerships, all partners are equally liable to the firm's debt unlike general partnerships.
B. In limited partnerships, partners incur single taxation on earnings unlike general partnerships.
C. In general partnerships, whenever the mix of partners is changed, that partnership is dissolved unlike limited partnerships.
D. In general partnerships, no government permission is required for the setup and maintenance of business unlike limited partnerships.
Answer
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