Which of the Following Statements Is TRUE for a Limited

question 146

Multiple Choice

Which of the following statements is TRUE for a limited liability partnership?

• A)All partners have limited liability for the debts of the partnership.
• B)All partners have limited liability for the acts of the other partners.
• C)The general partner has unlimited liability for the debts of the partnership.
• D)The limited partners have unlimited liability for the debts of the partnership.

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Definitions:

Economic Behaviorists

Researchers or theorists who study the decision-making processes of individuals and institutions, often investigating how psychological, social, cognitive, and emotional factors affect economic decisions.

Supply-Siders

Advocates of the economic theory that reducing taxes and regulations on businesses stimulates production and economic growth.

Rational Expectationists

Economists who believe that individuals and firms use all available information when making economic decisions, leading to outcomes that can be anticipated based on past trends.

Fiscal Policy

Government policies on taxation and spending that are used to influence the economy.