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General partners must obtain approval from a majority of the limited partners in order to manage the business. True or False

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General partners do not have to obtain approval to run the business which means that this statement is FALSE.

In a Limited Partnership:

  • The limited partners are not involved in the running of the business
  • The general partner makes all the relevant decisions involved in running the company

The general partner therefore, does not have to take permission from the limited partners to manage the business. The limited partners have limited roles with one of them being that they do not run the business.

In conclusion, this statement is false.

Find out more at https://brainly.com/question/12006026.

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