Which of the Following Statements About LLPs Is False

question 79

Multiple Choice

Which of the following statements about LLPs is false?

• A)State legislatures created the LLP as a means of reducing the personal liability of professional partners.
• B)An innocent partner of an LLP has no liability for the professional malpractice of his partners.
• C)LLP statutes grant partners broad protection.
• D)LLP statutes hold innocent partners liable for negligence.

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Definitions:

Morale

is the capacity of a group's members to maintain belief in an institution or goal, especially in the face of opposition or hardship.

Personal Control

The extent to which an individual feels they can influence or control the events and experiences affecting their life.

Retirement

The act of leaving one's job and ceasing to work, typically due to reaching a certain age or for health reasons, often leading to a period of personal adjustment.

Social Conscience

An awareness of the societal impacts of one's actions and a sense of responsibility toward the community and the environment.