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WAEC Commerce 2001 Question 8

Question 8

Business Units

Which of the following businesses must have at least one member with unlimited liability?

  1. A.Limited liability company
  2. B.Limited partnership
  3. C.Nominal partnership
  4. D.Public enterprise
Show the answer and explanation

Answer: B (Limited partnership)

Explanation

In a limited partnership at least one general partner must have unlimited liability.