Which of the Following Is True Regarding the Issue of George's

question 4

Multiple Choice

Which of the following is true regarding the issue of George's father deciding to manage the partnership?

• A) Before he can undertake management duties, he must get the approval of at least one half of all general and limited partners.
• B) There is no effect on the partnership agreement.
• C) He may be involved in all matters of management except strategic planning.
• D) He may be involved in management; but, as a limited partner, he may not be paid additional amounts for doing so.
• E) As a limited partner, he may not be involved in management and retain limited liability.

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