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Which of the Following Must Occur Upon the Conclusion of the Winding-Up

Question 44

Multiple Choice

Which of the following must occur upon the conclusion of the winding-up process of a limited partnership?


A) The general partners must post a bond to cover potential claims against the partnership.
B) A certificate of cancellation must be filed with the secretary of state in the state of organization.
C) To protect their limited liability,the limited partners must give notice of the termination of the partnership to those parties with whom the partnership has dealt.
D) The limited partners must receive their capital investment before the general partners receive theirs.

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