Which of the Following Statements About Partnership and Limited Liability

question 46

Multiple Choice

Which of the following statements about partnership and limited liability is (are) true?
I.All the partners in a partnership can have limited liability.
II.General partners in a partnership cannot have limited liability.
III.General partners in a partnership can be corporations.
IV.Only limited partners in a partnership can have limited liability.

• A)I and II only
• B)I,II,and III only
• C)II,III,and IV only
• D)I and III only

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Definitions:

Religiosity

The regular practice of religious beliefs, often measured in terms of frequency of attendance at worship services and the importance of religious beliefs to an individual.

Religious Beliefs

The faith or convictions individuals hold about a higher power or deity, and the practices, morals, and ethics associated with that faith.

Adhan

The Islamic call to prayer, recited by a muezzin at prescribed times of the day to announce each of the five daily prayer sessions in Islam.

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people.