According to the RULPA, What Liability Does a Corporation Have

question 27

Multiple Choice

According to the RULPA, what liability does a corporation have if it is a general partner to a limited partnership?

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

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Definitions:

Operating Activities

Activities directly related to the principal revenue-generating activities of an organization.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been allocated as depreciation expense since the asset was acquired and put into use.

Cash Dividends

Cash distributions from a company's earnings to its shareholders.

Balance Sheet

An account that outlines the financial position of a company, detailing its assets, liabilities, and owners' equity at a given point in time.