In a limited partnership, the limited partners may limit their _____.
A) tax liability
B) liability
C) tax write-off
D) ability to attract new products

Question

Quizplus · Accepted Answer

In a limited partnership, the limited partners have limited liability. This means they are only liable for the amount they have invested in the business and cannot be held personally responsible for any debts or liabilities incurred by the partnership. However, they may not necessarily have any limitation on their tax liability, tax write-offs, or ability to attract new products.

In a Limited Partnership, the Limited Partners May Limit Their