Which of the Following Is True of a Limited Partnership

question 61

Multiple Choice

Which of the following is true of a limited partnership?

• A) Other limited partnerships cannot become limited partners in an existing limited partnership.
• B) A limited partner is personally liable for the debts of the partnership.
• C) Corporations are allowed to become partners in a limited partnership.
• D) A limited partnership can have only one general partner but multiple limited partners.

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Definitions:

Output

The total amount of goods or services produced by a company or economy in a given period.

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The cost advantages that enterprises obtain due to their scale of operation, typically resulting in the reduction of cost per unit.

Aircraft Production

The process and industry involved in designing, manufacturing, and assembling aircraft.

Newspaper Printing

The process of mass-producing copies of a newspaper document, whereby the news and other data are printed onto papers.