Which of the following statements is false concerning limited partnerships?
A) Limited partners are responsible for all debts of the partnership.
B) Limited partners generally do not manage the partnership.
C) In a limited partnership, all partners share is limited to the amount contributed to the partnership.
D) Limited partnerships can bring in more partners.
E) Limited partnerships have limited liability (to the extent of their investment).

Question

Quizplus · Accepted Answer

Limited partners are not responsible for all debts of the partnership; their liability is limited to the amount of their investment in the partnership.

Which of the Following Statements Is False Concerning Limited Partnerships