Solved

A Limited Partner Who Takes an Active Part in Managing

Question 50

Multiple Choice

A limited partner who takes an active part in managing a limited partnership ________.


A) will lose the right to receive profit distributions as a limited partner
B) will be entitled to reasonable compensation for the value of the managerial services provided
C) will be treated as a general partner and is liable only to parties who reasonably believe that he or she is a general partner
D) will be treated as a general partner and liable to all parties with whom he or she transacts business affairs

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