Which of the Following Statements About Partnership and Limited Liability

question 28

Multiple Choice

Which of the following statements about partnership and limited liability is (are) true?

• A)All the partners in a partnership can have limited liability and general partners in a partnership cannot have limited liability.
• B)All the partners in a partnership can have limited liability, general partners in a partnership cannot have limited liability, and general partners in a partnership can be corporations.
• C)General partners in a partnership cannot have limited liability, general partners in a partnership can be corporations, and only limited partners in a partnership can have limited liability.
• D)All the partners in a partnership can have limited liability and general partners in a partnership can be corporations.

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Definitions:

Values, Interests

Core principles or standards of behavior, and the advantages or benefits that motivate individuals or groups.

Integrated

Combined in such a way that the elements become a unified whole, often referring to efforts of inclusion or synthesis.

International Negotiations

The process of discussing and coming to an agreement between parties from different countries, often involving complex cultural, legal, and economic factors.

Recognized

Being acknowledged or given formal validation by an authoritative body, peers, or society in general, for one's status, accomplishments, or legitimacy.