A limited partnership:
A)has an unlimited life.
B)can opt to be taxed as a corporation.
C)terminates at the death of any limited partner.
D)has a greater ability to raise capital than a sole proprietorship.
E)consists solely of limited partners.

Question

Quizplus · Accepted Answer

A limited partnership has the advantage of being able to raise capital from both limited partners and general partners, making it an attractive option for businesses looking to expand. However, it does have a limited life and can terminate if any limited partner leaves or dies. It is also taxed as a partnership and not as a corporation unless it elects to be taxed as one.

A Limited Partnership