Which of the Following Is False Regarding Limited Partnerships

question 38

Multiple Choice

Which of the following is false regarding limited partnerships?

• A) General partners of a limited partnership remain jointly and severally liable for partnership obligations.
• B) Limited partners assume no liability for partnership debts beyond the amount of capital they contributed.
• C) Limited partners are responsible for the management of the partnership.
• D) Limited partnerships are often used to raise capital.

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Definitions:

Identified Risks

Potential events or conditions that could negatively impact a project or business operation, which have been recognized and assessed for their impact and likelihood.

Project Risk

Potential events or conditions that can negatively impact the outcome of a project, including delays, cost overruns, and scope changes.

Organizational Risk

The potential for losses or negative outcomes resulting from the strategies, processes, or resources of an organization.

Internal Complexity

Refers to the intricacy or difficulty within an organization’s processes, structures, or systems.