Which of the Following Is TRUE of Limited Partners in a Limited

question 136

Multiple Choice

Which of the following is TRUE of limited partners in a limited partnership?

• A) They have limited liability for the debts of the business but their potential for profits is unlimited.
• B) They usually have first claim to profits and losses made by the business.
• C) They assume the same operational duties as that of the general partner.
• D) They have to assume a liability beyond their contribution in the business in the event of a bankruptcy.

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Definitions:

Phenotypes

The observable physical or biochemical characteristics of an organism, as determined by both genetic makeup and environmental influences.

Genotypes

The genetic constitution of an organism, determining its specific traits.

Phenotypes

The observable physical or biochemical characteristics of an organism, as determined by both genetic makeup and environmental influences.

Genotypes

The genetic makeup of an organism, representing the combination of alleles inherited from both parents.