In a limited liability partnership,each partner's risk of losing personal assets is:
A)limited to the amount that partner invested in the company.
B)limited to losses that result from their own acts and omissions and the acts and omissions of those who work under their supervision.
C)determined entirely by the maximum loss provision established by the articles of co-partnership.
D)nonexistent.

Question

Quizplus · Accepted Answer

In a limited liability partnership, partners are not personally liable for the actions and debts of the partnership, except for their own acts and omissions and those of the individuals they directly supervise. Therefore, their risk of losing personal assets is limited to these specific situations.

In a Limited Liability Partnership,each Partner's Risk of Losing Personal