In a limited partnership, a person may hold which two roles simultaneously?

In a limited partnership, the correct answer highlights the unique structure that allows for both a general partner and a limited partner to exist within the same entity. A general partner has unlimited liability and is active in the management of the business, while a limited partner has limited liability and typically does not participate in day-to-day management.

The ability for one person to hold both roles simultaneously is significant because it allows that individual to engage actively in management while still enjoying the protective liability aspect of being a limited partner. This dual role can be particularly advantageous for a person who wants to have a say in the management decisions without exposing themselves entirely to the financial risks associated with the business.

The other options do not reflect recognized roles within a limited partnership. For instance, a managing partner is not a recognized title within the limited partnership structure, as this specific partnership type distinguishes clearly between general and limited partners. Similarly, the roles of ‘silent partner’ and 'active partner' are more applicable to general partnerships rather than limited partnerships, where the terms general and limited accurately describe the legal attributes and responsibilities of the partners.