Paris is a CPA and a partner in a small firm. To limit her liability from the negligence or misconduct of her partners, they can form the firm as a Limited Liability Partnership.

Question

Quizplus · Accepted Answer

As a partner in a Limited Liability Partnership (LLP), Paris would not be personally liable for the negligence or misconduct of her partners. This is because an LLP provides limited liability protection to its partners, which means that their personal assets are not at risk if the partnership faces lawsuits or other legal claims.

Paris Is a CPA and a Partner in a Small