If a limited liability partnership fails,________.
A) the general partner alone is liable for all the debts and obligations of the partnership
B) the general partner alone is liable for debt equal to his or her capital contribution
C) all the partners are liable for all the debts and obligations of the partnership
D) all partners are liable for debts that amount to their capital contribution
Correct Answer:
Verified
Q33: A member's ownership interest in an LLC
Q34: The conversion of an existing business to
Q35: A member's distributional interest in an LLC
Q36: Which of the following best defines the
Q38: Who among the following is committing wrongful
Q40: Which of the following is true of
Q41: A _ of a manager-managed LLC owes
Q42: Which of the following actions requires voting
Q43: Mary,Harold,Harvey,and William form an LLC by contributing
Q44: In a member-managed LLC,_ can bind the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents