In the Case of Limited Partnership, Which of the Following

question 34

Multiple Choice

In the case of limited partnership, which of the following statements is true regarding the general partners?

• A) They are essentially passive investors in the partnership.
• B) They owe fiduciary duties of loyalty and care to the partnership.
• C) They do not have any say in the ordinary operations of the partnership.
• D) They are not personally liable for the partnership's debts.

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Definitions:

Employees' Lives

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Human Resource Professionals

Individuals specialized in managing the human aspects of organizations, focusing on policies and systems related to employee management and satisfaction.

Restructuring

Restructuring involves making significant changes to a company’s operations, structure, or finances, often to improve efficiency, competitiveness, or performance.

Just Cause

A legal standard that employers must meet to justify disciplinary actions or termination, demonstrating a valid and fair reason for their decisions.