A type of partnership in which all partners have unlimited liability and jointly manage the business is known as partnership.
- ordinary
- nominal
-
unlimited
- Limited
The correct answer is: C
Explanation
In an unlimited partnership, all partners have unlimited personal liability for the debts and obligations of the partnership. This means that if the partnership is unable to meet its financial obligations, the partners' personal assets can be used to satisfy those debts. Additionally, in an unlimited partnership, all partners have an equal say in the management and decision-making of the business.