Which type of partnership typically limits the accountability of some partners?

A limited partnership is the correct answer as it is specifically designed to allow for different levels of accountability and involvement among its partners. In a limited partnership, there are at least one or more general partners who manage the business and are fully liable for its debts and obligations. In contrast, limited partners contribute capital and share in the profits but do not participate in the day-to-day management of the business; their liability is typically limited to the amount of their investment in the partnership.

This structure is beneficial for investors who wish to support a business financially without taking on the full risks and personal liability associated with the management of the business. The separation of roles and liabilities allows individuals to invest in partnerships while securing their personal assets against business liabilities, which is a key feature of a limited partnership.

In comparison, a general partnership involves partners who share equal responsibility and liability for the debts and obligations of the partnership, making it a less appealing structure for those wishing to limit their risk. A joint venture, while similar to partnerships, is typically formed for a specific project or limited purpose and does not inherently provide the same structure for limiting liability. A sole proprietorship, on the other hand, involves an individual who alone bears all liabilities of the business, thus does not limit accountability