Finnegan Is a Limited Partner in Gettout & Associates, a Local

question 143

Multiple Choice

Finnegan is a limited partner in Gettout & Associates, a local financial consulting company. Heywood U. Gettout is one of the general partners in the company and is needing to temporarily leave the company to attend to some personal matters. Heywood has asked Finnegan to perform his managerial duties while he is gone. As a limited partner, Finnegan

• A) can fill in as a manager whenever necessary, as long as it is for only a limited time.
• B) can make managerial decisions as long as they do not involve the payment of money.
• C) cannot participate in the management of the partnership.
• D) can manage the firm as long as he gets approval from the company's other general partners.