All of the following statements regarding LP's are not true, except: _______.
A) The words limited partnership or simply LP must appear in the firm's name.
B) General partners cannot avoid personal liability by incorporating.
C) Limited partners can lose their liability limitation if they participate in the control of the business.
D) If sued, limited partners can lose more than their capital investment.

Question

Quizplus · Accepted Answer

The Answer of All of the following statements regarding LP's are not true, except: _______.
A) The words limited partnership or simply LP must appear in the firm's name.
B) General partners cannot avoid personal liability by incorporating.
C) Limited partners can lose their liability limitation if they participate in the control of the business.
D) If sued, limited partners can lose more than their capital investment.

All of the Following Statements Regarding LP's Are Not True