Which of the Following Is Correct Regarding a Limited Partnership

question 18

Multiple Choice

Which of the following is correct regarding a limited partnership?

• A) The general partner must make a cash or property contribution.
• B) It can be created in such a way that the general partner has limited liability.
• C) It can only be created pursuant to statutory provisions.
• D) Limited partners are unable to vote on the incurrence of debt other than in the ordinary course of business under the safe harbor provisions of the RULPA.

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Definitions:

Group Interests

Collective goals or objectives pursued by a group of individuals who share a common interest or purpose.

Monochronic Cultures

People tend to do one thing at a time.

Polychronic Cultures

Time is used to accomplish many different things at once.

High-context Cultures

Societies or groups in which communication is heavily reliant on context, implied messages, and non-verbal cues rather than explicit words.