Which of the Following Is True About a Limited Partnership

question 31

Multiple Choice

Which of the following is true about a limited partnership?

• A) Only a limited partner may actively transact business.
• B) Limited partners may draw against capital, prior to dissolution, only up to the amount of their own contribution to capital.
• C) Only a general partner may actively transact business.
• D) A limited partner cannot become a general partner without consent of the all other partners.

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