Question: 1. Describe and explain the difference between a general partnership and a limited partnership (LP). Also, explain what types of professional companies are organized as

1. Describe and explain the difference between a general partnership and a limited partnership (LP). Also, explain what types of professional companies are organized as LLPs and why?

2. The two options for being admitted into a partnership are by making an investment in the partnership or purchasing an interest from an existing partner. Describe the difference between the two and explain which option you believe is better.

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