Which of the following is true of limited partnerships?

Question

Quizplus · Accepted Answer

Limited partnerships have one or more general partners and one or more limited partners.Normally,limited partners have no obligation for the debts of the partnership.Because limited liability is a privilege given by the state,limited partnerships can be created only under a state statute.The statutory formalities must be complied with to form a limited partnership.A certificate must be filed with the secretary of state or the county recorder.

Which of the Following Is True of Limited Partnerships