A New Partner to a LLP Is Liable Only to the Amount

question 37

True/False

A new partner to a LLP is liable only to the amount of capital invested in the business.

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Definitions:

Induction

The process or action of bringing about or giving rise to something.

Gender Labels

Terms or expressions used to identify or categorize individuals according to their perceived or self-identified gender.

American Adult

An individual who is legally recognized as an adult in the United States, often discussed in context with cultural, social, or economic issues affecting this demographic.

Praise

Expressions of approval or admiration intended to encourage or motivate an individual, often used as a tool in education and parenting.