Which of the Following Statements Is True Under the 2001

question 37

Multiple Choice

Which of the following statements is true under the 2001 revision to the Revised Uniform Limited Partnership Act (RULPA) ?

• A) A limited partner cannot be held liable for the partnership debts unless he or she participates in the management of the limited partnership.
• B) A limited partner can be held liable for the partnership debts under any circumstance.
• C) A limited partner can be held liable for the partnership debts if he or she receives profits.
• D) A limited partner cannot be held liable for the partnership debts even if he or she participates in the management and control of the limited partnership.

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Definitions:

Reward Power

The ability of an individual to influence others by controlling valued resources or rewards.

Performance

The act of carrying out or accomplishing tasks, measured against preset known standards of accuracy, completeness, and speed.

Rewards

Benefits, compensation, or other forms of recognition provided to individuals or groups for their performance and achievements.

Reward Power

The ability of an individual to influence the actions of others by offering or withholding rewards.