A limited partnership
A)allows some partners to limit their loss to the amount of his or her investment.
B)has an agreed-upon limited life.
C)is a corporation that U.S.tax laws treat as a partnership.
D)is a firm with a limited life that a company creates to achieve a specific objective,such as raising money by selling receivables.

Question

Quizplus · Accepted Answer

A limited partnership allows some partners to limit their loss to the amount of his or her investment. This means that they are not personally liable for the debts and obligations of the partnership beyond their investment.

A Limited Partnership