Question $3(1$ point$)$

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A Limited Liability Partnership $($LLP$)$ is different from a limited partnership. Which of the following is NOT true?

In a limited partnership, the partner's liability is limited to the total amount of capital contributions of all partners.

Unlike partners in an LLP$,$ limited partners lose their limited liability if they participate in management.

In a limited partnership there must be at least one general partner who has unlimited liability.

Limited partnerships are not restricted to the professions.