Ask Question
12 February, 21:31

Which of the following statements regarding limited partnerships is TRUE?

a. A general partner's liability is limited by the amount of their investment.

b. There is no limit on a limited partner's liability.

c. A limited partner is not liable until all the assets of the general partners have been exhausted.

d. A limited partner's liability is limited by the amount of their investment

+3
Answers (1)
  1. 12 February, 23:08
    0
    Answer: The following statements regarding limited partnerships is true: A limited partner's liability is limited by the amount of their investment.

    A Limited Partnership is a relationship existing of general partner, who manages the organization and has outright personal liability for the financial obligation of the Limited Partnership, and a limited partner, who has controlled financial obligation but cannot act in administration.

    Therefore option (d) is correct.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following statements regarding limited partnerships is TRUE? a. A general partner's liability is limited by the amount of ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers