A Limited Liability Partnership (LLP)can Exist Without Having a General

question 50

True/False

A limited liability partnership (LLP)can exist without having a general partner.

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Definitions:

Competitive Markets

Markets in which there are many buyers and sellers so that each has a negligible impact on the market price.

Constitutional Reform

The process of formally changing or amending the constitution of a nation or state to address legal, structural, or functional aspects.

Special Interest Effect

The phenomenon where policy decisions are disproportionately influenced by small, organized groups at the expense of the larger public's interest.

Government Failure

Situations where government intervention in the economy creates inefficiency, leading to a misallocation of resources.