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:

Proof 1

A logical or mathematical demonstration showing that a specific statement or theorem is true, based on accepted axioms and inference rules.

Proof 2

An alternative term generally meaning evidence or argument establishing a fact or the truth of a statement.

Demonstrations

organized activities by a group of people to show their protest, or support for, or against a cause.

Validity

The property of an argument in which the truth of the premises logically guarantees the truth of the conclusion.