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Which of the Following Statements Is False

question 11

Multiple Choice

Which of the following statements is false?


Definitions:

Limited Partner

An investor in a partnership who is not involved in day-to-day management and whose liability is limited to the amount invested.

Uniform Partnership Act

A statute that sets standard rules for the formation and operation of partnerships in the United States to ensure consistency and fairness.

Limited Liability Companies

A commercial entity that unites the individual or partnership tax pass-through with the corporation's benefit of limited liability.

Members

Owners of a limited liability company.

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