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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