Which of the Following Is True of a General Partner

question 89

Multiple Choice

Which of the following is true of a general partner of a limited liability partnership (LLP) ?

• A) A general partner of a limited liability partnership (LLP) is fully personally liable for all business debts.
• B) A general partner of a limited liability partnership (LLP) is liable for the negligence, irresponsibility, or similar acts committed by any other partner.
• C) A general partner of a limited liability partnership (LLP) is considered as an investor only.
• D) A general partner of a limited liability partnership (LLP) is liable only to the extent of his/her investment in the partnership.
• E) A general partner of a limited liability partnership (LLP) is taxed for the limited partners' share of the partnership's income.

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