Which of the Following Is True of Limited Partnerships

question 52

Multiple Choice

Which of the following is true of limited partnerships?

• A) All the owners have full responsibility of repaying debts.
• B) All the owners face the potential of having to pay business debts from their own wealth.
• C) None of the owners,except the general partner,is fully liable.
• D) None of the owners are at a risk of losing what they invested in the business.

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Definitions:

Stakeholder's Concerns

The issues or interests that stakeholders (individuals or groups affected by or with an interest in a company's operations) have in the actions and performance of an organization.

Corporate Governance

The system of rules, practices, and processes by which a company is directed and controlled, focusing on balancing the interests of stakeholders.

Governments

The system or group of people governing an organized community, often a state, including institutions and individuals with authority to make and enforce laws.

Organizational Stakeholders

Individuals or groups that have an interest, stake, or investment in the success and operations of an organization, including employees, customers, investors, and suppliers.