The limited liability provided to limited partners means that they are not responsible for the debts of the business beyond:
A)The firm's total assets.
B)The amount they have invested in the company.
C)The percentage of profits they are entitled to earn.
D)Their total personal assets.

Question

Quizplus · Accepted Answer

Limited liability means that the limited partners are only responsible for the debts of the business to the extent of their investment in the company. They are not liable for any more than that. So, option B is the correct answer.

The Limited Liability Provided to Limited Partners Means That They