Which of the following is true about limited partners?
A) A limited partner has no right to participate in management,has limited liability up to the amount of his or her assumption of debt,and is an agent of the partnership.
B) A limited partner has no right to participate in management,has limited liability up to the amount of his or her assumption of debt,and is not an agent of the partnership.
C) A limited partner has a limited right to participate in management,has limited liability up to the amount of capital,and is an agent of the partnership.
D) A limited partner has no right to participate in management,has limited liability up to the amount of capital,and is not an agent of the partnership.
E) A limited partner has a limited right to participate in management,has limited liability up to the amount of capital,and is not an agent of the partnership.
Correct Answer:
Verified
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