Which of the following statements about limited liability partnerships is true?
A) The LLP has become the preferred form of business for professionals who do not incorporate.
B) A partner's liability for his partner's professional malpractice automatically extends to his personal assets.
C) A partner retains partial liability for his own malpractice.
D) LLPs were created as a reaction to the personal liability imposed on physicians for the medical malpractice of their partners.
Correct Answer:
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