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:

Environmental Effects

The impact of human activities on the natural environment, often concerning pollution, habitat destruction, and climate change.

Dependency Theory

A theory that suggests developing nations remain impoverished and dependent due to the exploitation and influence of developed nations.

World Stratification

This term describes the hierarchical layering of countries, often based on economic status, such as developed, developing, and underdeveloped, highlighting global inequalities.

Economic Development

The process of improving the economic well-being and quality of life for a community or country by increasing income, reducing poverty, and managing sustainable growth.