Which of the Following Is True Regarding the Liability of the Partners

question 18

Multiple Choice

Which of the following is true regarding the liability of the partners in a limited partnership?

• A) Both the limited and general partners have unlimited liability for the partnership debts.
• B) Neither the limited nor the general partners have unlimited liability for the partnership debts.
• C) The limited partners have limited liability and the general partners have unlimited liability for the partnership debts.
• D) The limited partners have unlimited liability and the general partners have limited liability for the partnership debts.
• E) If a corporation is a partner,its shareholders have unlimited liability for the partnership debts.

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Definitions:

Obsession

A persistent, intrusive thought, idea, or image that causes significant anxiety or distress.

Persistent

Refers to something that continues to exist or occur over a prolonged period.

Unwanted Thought

Unwanted thoughts are intrusive and often distressing ideas, images, or impulses that enter the mind without the individual's desire, which can be difficult to manage or eliminate.

Compulsion

An irresistible urge to behave in a certain way, especially against one's conscious wishes.