Which of the Following Types of Liability Do Limited Partners

question 24

Multiple Choice

Which of the following types of liability do limited partners of a limited partnership have for the debts and obligations of the limited partnerships?

• A) unlimited personal liability
• B) liability restricted to debts up to their capital contributions
• C) liability of termination as partner
• D) unlimited organizational capital liability

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Definitions:

Fiscal Policy

The use of government spending and taxation to influence the economy, including its growth rate, inflation, and unemployment levels.

Legislation

Laws that have been enacted by a legislature or governing body.

American Recovery

A reference to the efforts, policies, and programs aimed at recovering from economic downturns in the United States, like the response to the 2008 financial crisis.

Discretionary Fiscal Policy

Government policy that involves changing tax rates and levels of government spending to influence the economy.