Which of the Following Statements About Partnership and Limited Liability

question 72

Multiple Choice

Which of the following statements about partnership and limited liability is(are) true? I) all the partners in a partnership can have limited liability
II) general partners in a partnership cannot have limited liability
III) general partners in a partnership can be corporations
IV) only limited partners in a partnership can have limited liability

• A) I and II only
• B) I, II and III only
• C) II, III and IV only
• D) I and III only

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Definitions:

Reverse Fault

A reverse fault is a type of geological fault where the hanging wall moves upward relative to the footwall, typically occurring in areas of compression like the boundaries of convergent tectonic plates.

Thrust Fault

A type of fault in which one rock stratum is pushed up and over another due to compressional forces.

Hypocenter

The point within the Earth where a seismic rupture starts, commonly known as the focus of an earthquake.

Epicenter

The point on Earth’s surface directly above where an earthquake occurs (directly above the focus or hypocenter).