Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'limited partnership'?

A. partnership that has at least one general partner and at least one limited partner
B. limited partnership that consists of one or more general partners who are liable for the obligations of the entity as well as one or more protected limited liability partners
C. partnership that has general partners but provides its individual partners some level of protection against personal liability for certain partnership liabilities
D. partnership that has at least two general partners that agree to share in all assets, profits, and financial and legal liabilities of the business

Answer: partnership that has at least one general partner and at least one limited partner