Which of the following statements regarding limited partnerships is true?
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) All of the statements are true.
Correct Answer:
Verified
Q21: An LLC is a legal entity with
Q28: Under the Revised Uniform Limited Partnership Act,a
Q30: All owners of a limited liability company
Q31: When no limited partnership certificate is filed,what
Q32: The partners who manage the limited partnership
Q32: Management of an LLC is vested in
Q34: A limited liability company may be managed
Q35: The dissolution and winding up of a
Q37: A limited liability company is identical to
Q38: Under the Revised Uniform Limited Partnership Act,a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents