Which of the Following Is a Difference Between Limited Partnerships

question 35

Multiple Choice

Which of the following is a difference between limited partnerships and limited liability partnerships?

• A) In limited partnerships, only the general partners assume unlimited personal liability of the debts, whereas in limited liability partnerships, the partners do not hold any liabilities.
• B) In limited liability partnerships, all partners have limited liability of company debts, whereas in limited partnerships, both partners hold unlimited liabilities.
• C) In limited liability partnerships, all the partners actively participate in the management of the company, whereas in limited partnerships, only the general partners actively manage the company.
• D) In limited partnerships, only the limited partners actively participate in managing the company, whereas in limited liability partnerships, all the members participate in the management of the company.

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Definitions:

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