Which of the following is true about limited partners?
A) A limited partner has no right to participate in management, has limited liability up to the amount of his or her assumption of debt, and is an agent of the partnership.
B) A limited partner has a limited right to participate in management, has limited liability up to the amount of capital, and is not an agent of the partnership.
C) A limited partner has no right to participate in management, has limited liability up to the amount of his or her assumption of debt, and is not an agent of the partnership.
D) A limited partner has no right to participate in management, has limited liability up to the amount of capital, and is not an agent of the partnership.
E) A limited partner has a limited right to participate in management, has limited liability up to the amount of capital, and is an agent of the partnership.
Correct Answer:
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