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Limited Partnerships Are Generally Subject to Specific Legislation, Providing That

Question 2

Multiple Choice

Limited partnerships are generally subject to specific legislation, providing that


A) limited partners have limited authority to bind the partnership.
B) the inclusion of a limited partner in the firm name automatically makes them a general partner.
C) at least one partner has unlimited joint and several liability for partnership debts.
D) limited partners' liability is capped by the amount of capital contributed but profits may be shared in any proportion as long as a limited partner does not assist in running the business.
E) all of the responses are true.

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