In a limited liability partnership,most of the partners have liability for partnership obligations:
A)beyond the partnership assets.
B)up to the extent of the partnership assets.
C)as per the partnership rules & regulation.
D)as per the demand of the partner.

Question

Quizplus · Accepted Answer

The asset distribution rules are modified for a limited liability partnership,because in an LLP most partners have no liability for partnership obligations beyond the partnership's assets.

In a Limited Liability Partnership,most of the Partners Have Liability