Which of the Following Statements About Limited Liability Partnerships Is

question 9

Multiple Choice

Which of the following statements about limited liability partnerships is true?

• A)The LLP has become the preferred form of business for professionals who do not incorporate.
• B)A partner's liability for his partner's professional malpractice automatically extends to his personal assets.
• C)A partner retains partial liability for his own malpractice.
• D)LLPs were created as a reaction to the personal liability imposed on physicians for the medical malpractice of their partners.

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Definitions:

Performance Boost

An improvement in performance, often due to certain interventions, motivations, or conditions.

Dual Process Approach

A cognitive theory that proposes there are two distinct systems in the mind, one intuitive and fast, and the other deliberative and slow, influencing decision making and reasoning.

Reflective Processes

Cognitive operations that involve deliberate, conscious thinking and evaluation, typically guiding decision-making and behavior based on reflection.

Coordinated Processes

Activities or systems that are managed in a way that ensures they operate harmoniously and efficiently towards a common goal.