Which of the Following Is True in Respect of Limited

question 97

Multiple Choice

Which of the following is true in respect of limited liability partnerships (LLPs) ?

• A) Historically, professionals have relied primarily on incorporation for carrying on business.
• B) Provincial limited liability partnership legislation has been introduced in various jurisdictions across Canada.
• C) Professionals are prohibited from operating under a limited liability partnership.
• D) The main advantage to those carrying on business as an LLP is that potential liability is limited for torts, for breach contract, and for breach of trust.
• E) Unlike limited partners, those operating through LLPs are not burdened with limitations with respect to naming, registration, or other requirements.

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