Which of the Following Is True of Limited Liability Partnerships

question 20

Multiple Choice

Which of the following is true of limited liability partnerships?

• A)This type of partnership can operate under the Uniform Partnership Act.
• B)This type of partnership can be formed without a specific state statute prescribing the conditions under which it can operate.
• C)This type of partnership cannot operate under the common law.
• D)This type of partnership cannot be formed in most states.

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Definitions:

Outermost Zone

The furthest layer or area, often used in context with geographical locations or structures.

Earth's Mantle

is the layer of the Earth located between the crust and the outer core, composed of silicate rocks that are rich in magnesium and iron, and participates in tectonic processes.

Inorganic Compound

A compound that is not based on hydrocarbon chains or rings but instead consists of elements other than carbon and hydrogen, often including metals.

Crystalline Structure

The highly ordered arrangement of atoms or molecules within a crystal, giving it characteristic physical properties.