Which of the Following Is True About the Effect of LLP

question 47

Multiple Choice

Which of the following is true about the effect of LLP statutes after appointment of a new partner?

• A)RUPA provides that the new partner has full liability for the LLP's obligations.
• B)The former partners will be personally responsible on committing a malpractice.
• C)For obligations incurred before his admission,the new partner may not be held liable.
• D)LLP partnership agreements often change the RUPA rule about a new partner's liability.

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Definitions:

Low Tech

Technologies or products that are characterized by simplicity and lack of advanced features, often appealing due to their ease of use and reliability.

High Effort

Pertains to tasks or activities that require a significant amount of work, time, or resources to complete.

Monetary Compensation

Payment received by an employee from an employer in the form of money for the services performed, which may include wages, salaries, and bonuses.

Service Failure

A situation where a service does not meet the customer's expectations, leading to dissatisfaction and potentially damage to the service provider's reputation.