Identify the Correct Statement About a Limited Liability Partnership (LLP)

question 57

Multiple Choice

Identify the correct statement about a limited liability partnership (LLP) . 

• A)The controller of a limited liability partnership is responsible for the negligence and irresponsibility of the general partners.
• B)A limited partner of a limited liability partnership is responsible for the general management of the partnership business.
• C)A limited partner of a limited liability partnership is liable to pay tax on all the partnership income.
• D)A general partner of a limited liability partnership is personally liable for all business debts.
• E)A limited partner of a limited liability partnership is responsible for the negligence and irresponsibility of all general partners.

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Definitions:

Cool-down Period

A period of time after physical exercise or a high-stress event where activities are performed at a reduced intensity to facilitate recovery.

Aerobic Exercise

Physical activity that involves the use of oxygen to adequately meet energy demands during exercise via aerobic metabolism.

Weight Training

A form of physical activity that involves lifting weights or using resistance to build muscle strength, endurance, and size.

Resistance Training

A form of physical activity designed to improve muscular strength and endurance by exercising against an opposing force.