When Forming a Limited Partnership,it Is Critical to Know That

question 40

Multiple Choice

When forming a limited partnership,it is critical to know that:

• A)general partners have limited liability for the firm's debts.
• B)a certificate of limited partnership must be filed with the Secretary of State's office.
• C)limited partners are participating investors.
• D)general partners can only take a limited part in the management of the firm.

---

Definitions:

Information Dependent

The state of requiring or heavily relying on information to make decisions or carry out tasks.

Anticipatory Socialization

The process of learning and adapting to the norms and expectations of a role or environment before formally entering it.

Encounter

An unexpected or casual meeting with someone or something.

Organizational Socialization

The process by which new employees learn the attitudes, knowledge, skills, and behaviors required to function effectively within an organization.