Which of the Following Statements About Partnership and Limited Liability

question 28

Multiple Choice

Which of the following statements about partnership and limited liability is (are) true?

• A)All the partners in a partnership can have limited liability and general partners in a partnership cannot have limited liability.
• B)All the partners in a partnership can have limited liability, general partners in a partnership cannot have limited liability, and general partners in a partnership can be corporations.
• C)General partners in a partnership cannot have limited liability, general partners in a partnership can be corporations, and only limited partners in a partnership can have limited liability.
• D)All the partners in a partnership can have limited liability and general partners in a partnership can be corporations.

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Definitions:

Essential Limitation

A fundamental or inherent restriction, often referring to the inherent bounds of a concept or a system's capabilities.

Thematic Section

A thematic section is a portion of a text or publication dedicated to a particular theme or topic, organizing content in a way that highlights its focus or significance.

Fellowship

A community of people sharing similar interests, purposes, or experiences, often in a professional or educational context.

Thematic Section

A portion of a publication or document that focuses on a specific theme or topic.