Which of the Following Statements Regarding Limited Partnership Is TRUE

question 27

Multiple Choice

Which of the following statements regarding limited partnership is TRUE?

• A)There is no limit on a limited partner's liability.
• B)A limited partner is not liable until all the assets of the general partners have been exhausted.
• C)A general partner's liability is limited by the amount of their investment.
• D)A limited partner's liability is limited by the amount of their investment.

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Definitions:

Natural Level

Refers to a state that an economic variable tends to trend towards in the long term, unaffected by short-term fluctuations.

Output

In economics, output refers to the total amount of goods and services produced by an economy or a firm in a given period.

U.S. Net Exports

The value difference between what the United States exports to other countries and what it imports, which can be positive (surplus) or negative (deficit).

Aggregate Demand

The total call for goods and services throughout an economy, calculated at a predetermined price level during a given time period.