Which of the Following Is Correct Regarding the Fiduciary Duties

question 15

Multiple Choice

Which of the following is correct regarding the fiduciary duties in a limited partnership?

• A) The general partner has a fiduciary relationship to the limited partners, but not to any other general partners.
• B) Judicial authority seems to suggest that the limited partner has no fiduciary duty to the partnership.
• C) The fiduciary duty of the general partner has little effect upon the interests of the limited partners, because they have no ability to manage or control the partnership.
• D) All of these are correct.

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Definitions:

Value of Money

The purchasing power of money, which can be influenced by factors like inflation and interest rates.

Money Demand

The total amount of money that households and businesses wish to hold in the form of cash or deposits, at a given time.

Quantity of Money

The total amount of money available in an economy, including currency and balances held in checking and savings accounts.

Prices Fall

A situation where the amount of money required to purchase goods or services decreases, typically due to reduced demand or increased supply.