Which of the following has most of the characteristics of a general partnership except that it significantly reduces the partners' liability?
A) General Partnership.
B) Limited Partnership.
C) Subchapter S Partnership.
D) Limited Liability Partnership.
E) Limited Liability Company.

Question

Quizplus · Accepted Answer

A Limited Liability Partnership (LLP) has most of the characteristics of a general partnership but provides limited liability protection to its partners, reducing their personal liability for business debts and obligations.

Which of the Following Has Most of the Characteristics of a General