Which of the Following Is True Regarding Limited Partnerships

question 83

Multiple Choice

Which of the following is true regarding limited partnerships?

• A) The general partners are investors only.
• B) The limited partners are managers only.
• C) The general partners have limited liability.
• D) The limited partners have limited liability.

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Definitions:

Surety

A person or entity that takes responsibility for another's performance of an obligation, such as the payment of a debt.

Payment

The transfer of money, goods, or services as compensation for an obligation or debt.

Collateral

refers to assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default.

Tangibles

Physical assets that can be touched and seen, such as machinery, buildings, and land, as opposed to intangible assets like stocks or patents.