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A Partner May Not Receive a Distribution from a Limited

question 68

True/False

A partner may not receive a distribution from a limited partnership unless the partnership's assets after the distribution would be sufficient to pay all of the partnership's liabilities, including those to other partners on account of their partnership interests.


Definitions:

Cerebral Palsy

A group of permanent movement disorders that appear in early childhood, caused by abnormal development or damage to the parts of the brain that control movement, balance, and posture.

Abbreviation

An abbreviated variation of a word or phrase.

Rapid Eye Movement

A phase of sleep characterized by the rapid movement of the eyes, dreaming, and increased brain activity.

Abbreviation

The process of shortening a word or group of words to simplify expressions or terms.

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