In Which of the Following Ways Does a Limited Partnership

question 25

Multiple Choice

In which of the following ways does a limited partnership differ from a general partnership?

• A) In a limited partnership, the general partner has an unlimited personal liability in the partnership; whereas in a general partnership, all partners have unlimited personal liability.
• B) In a limited partnership, all the partners make an equal contribution to the daily operations; whereas in a general partnership, the general partner assumes a greater responsibility of the operation.
• C) In a limited partnership, there will be only one class of partners named limited partners; whereas in a general partnership, there will be only one class of partners named general partners.
• D) In a limited partnership, each partner is not personally liable for the malpractice committed by another partner; whereas in a general partnership, only the general partner is personally liable for the malpractice committed by another partner.

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