Which of the Following Statements Is TRUE

question 7

Multiple Choice

Which of the following statements is TRUE?

• A)Both limited partnerships and general partnerships come into existence as soon as two or more people start carrying on business with a view to a profit.
• B)Both limited partners and general partners have unlimited liability for the obligations of the partnership.
• C)All partners in both limited partnerships and general partnerships are entitled to give advice regarding management.
• D)In a limited partnership, the liability of all partners for the obligations of the partnership is limited.
• E)A limited partner can control the general partner without losing their limited liability as a limited partner.

---

Definitions:

Obscure

Not clearly expressed or easily understood; vague or ambiguous.

Negative Terms

In logic, these refer to terms within a proposition that negate or imply the absence of something.

Timelessness

The quality of being eternal, unchanging, or not affected by time.

Clean Driving Record

An individual's documentation showing a history free of traffic violations, accidents, or infractions.