Which of the Following Is Untrue of a Limited Partnership

question 38

Multiple Choice

Which of the following is untrue of a limited partnership?

• A) Limited partnerships must be formed under a state statute.
• B) Limited partners' surnames ordinarily cannot be used in the partnership business name.
• C) Partners in limited partnerships must contribute services to the partnership.
• D) Limited partners in a limited partnership are generally not responsible for the debts of the partnership beyond their investment.

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Definitions:

Collective Action

The joint effort of a group of individuals working together to achieve a common objective or to address a shared concern, often in societal or community contexts.

Empowerment Theory

A theoretical approach that prioritizes enabling individuals or groups to increase control over their lives, gain rights, influence decision-making processes, and improve their situation.

Inequality

A situation or condition where resources, opportunities, and rights are distributed unevenly among members of a society.

Discriminatory Practices

Actions or policies that unjustly differentiate among people based on age, race, gender, or other protected characteristics.