Which of the Following Would Not Be Personally Liable for the Debts

question 3

Multiple Choice

Which of the following would not be personally liable for the debts of the business?

• A) A sole proprietor.
• B) A partner in a general partnership.
• C) A general partner in a limited liability limited partnership.
• D) A general partner in a limited partnership.

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Definitions:

Poisson Random Variable

A type of discrete random variable that expresses the probability of a given number of events occurring in a fixed interval of time or space.

Poisson Probabilities

Probabilities calculated under the assumption of a Poisson distribution, typically used to model the number of times an event occurs in a fixed interval of time or space.

Calculate

To determine something mathematically, often by using a specific formula or procedure.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events happening in a fixed interval of time or space, assuming events occur with a known constant mean rate and independently of the time since the last event.