In a limited partnership:
A) Only the limited partners are involved in the daily management of the firm.
B) Both general and limited partners are involved in the daily management of the firm.
C) A limited partner is liable only for the amount he/she contributed to the partnership.
D) A general partner is liable only for the amount he/she contributed to the partnership.
E) The income earned is taxed like a corporation.
Correct Answer:
Verified
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