Which of the Following Is True of a Limited Liability

question 29

Multiple Choice

Which of the following is true of a limited liability partnership?

• A) The most common type of industry for this type of organization is agriculture, or family farms.
• B) States that recognize limited liability partnerships sometimes limit them to organizations that provide a professional service for which each partner is licensed.
• C) In a limited liability partnership, partners do not report their profits and losses on their personal tax returns.
• D) One of the disadvantages of a limited liability partnership is that it does not protect individual partners from personal liability for the negligent acts of other partners.

---

Definitions:

Climate Survey

A tool used to gauge the overall atmosphere or mood within an organization, typically regarding employee satisfaction and engagement.

Workplace Cultures

The environment and characteristic ethos of a workplace, defined by its values, traditions, beliefs, behaviors, and attitudes.

Cultural Integration

The process of merging and adapting different cultural beliefs, values, and practices within an organization or society.

Conglomerate

A large corporation formed by the merging of diverse firms across different industries, operating under one corporate group.