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:

Cultural Roots

The origins and elements that make up the shared identity, traditions, and values of a specific group of people or society.

Dominant Culture

The established set of cultural practices, beliefs, and values that are widely shared and prevail in a society, often exerting influence over other cultures within the same society.

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A medical condition characterized by an uncontrolled use of substances despite harmful consequences, leading to significant impairment.

Maladaptive Behavior

Actions or tendencies that inhibit an individual's ability to adjust healthily to particular situations.