A General Partner in a Limited Partnership

question 22

Multiple Choice

A general partner in a limited partnership

• A) is responsible for management duties in the business.
• B) is liable for partnership liabilities only to the extent of the partner's capital investment.
• C) is protected from any malpractice or negligence claims resulting from the acts of another partner.
• D) has limited liability for partnership debts.

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Definitions:

Western Hemisphere

The half of the Earth that lies west of the Prime Meridian (which crosses Greenwich, London) and east of the antimeridian, encompassing the Americas.

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Activities and actions conducted by armed forces to achieve specific strategic objectives, often involving combat and non-combat maneuvers.

Economic Environment

The totality of economic factors, such as employment, income levels, and inflation, that influence the disposal income and spending patterns of a society.