Which of the following is true regarding the liability of the partners in a limited partnership? Both
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Question:
Which of the following is true regarding the liability of the partners in a limited partnership?
Both the limited and general partners have unlimited liability for the partnership debts. |
Neither the limited nor the general partners have unlimited liability for the partnership debts. |
The limited partners have limited liability and the general partners have unlimited liability for the partnership debts. |
The limited partners have unlimited liability and the general partners have limited liability for the partnership debts. |
If a corporation is a partner, its shareholders have unlimited liability for the partnership debts. |
Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
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