Which of the Following Statements Is TRUE

question 28

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.

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Definitions:

Critical Thinking

Actively and proficiently envisioning, implementing, scrutinizing, amalgamating, and judging information to come to a decision or conclusion.

Free Society

A society where individuals have the freedom to choose, express, and live as they wish, with minimal government intervention.

Open Society

A term coined by philosopher Karl Popper, referring to a society where government action is transparent, civil liberties are protected, and there is the opportunity for social and political change.

Critical Thinking

Purposefully dissecting and reviewing a topic to determine an outcome.