In a General Partnership,which of the Following Is True of Limited

question 45

Multiple Choice

In a general partnership,which of the following is true of limited partners?

• A)Limited partners take an active part in the management of the firm.
• B)A limited partner's nonpartnership property can be used to satisfy any debts owed by the firm.
• C)Limited partners are nonparticipating investors.
• D)Limited partners have unlimited liability for the firm's debts.

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Definitions:

Secondary Meaning

occurs when a descriptive term or phrase used in connection with a product or service becomes closely associated with that product or service in the minds of consumers.

Trademark Misappropriated

Unlawful use of another’s trademark or service mark without permission, leading to confusion or deception.

Company

A legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise.

Collective Mark

A trademark or service mark used by members of a collective group to identify the services or goods they provide with a certain level of quality or accuracy.