Question

Finnegan is a limited partner in Gettout & Associates, a local financial consulting company. Heywood U. Gettout is one of the general partners in the company and is needing to temporarily leave the company to attend to some personal matters. Heywood has asked Finnegan to perform his managerial duties while he is gone. As a limited partner, Finnegan______________

Answer 1

Answer:

Cannot participate in the management                                

Explanation:

A limited partner refers to the company partner whose liability for the company's debts can not exceed the amount invested in the company by an individual. Limited associates are frequently termed silent partners.

A limited partner contributes money in return for partnership shares but has negligible voting weight over the management of the company and no direct presence in the enterprise.