Which of the Following Is NOT True Regarding Limited Partnerships

question 7

Multiple Choice

Which of the following is NOT true regarding limited partnerships?

• A) General partners of a limited partnership remain jointly and severally liable for partnership obligations.
• B) Limited partners assume no liability for partnership debts beyond the amount of capital they contributed.
• C) Limited partners are responsible for the management of the partnership.
• D) Limited partnerships are often used to raise capital.

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