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

Question

Quizplus · Accepted Answer

In a limited liability partnership, each partner's personal assets are protected from losses due to the acts and omissions of other partners. However, they are still responsible for losses that happen due to their own actions or those of the people they supervise. This limits their personal risk but still holds them accountable for their own mistakes.

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