Question: There are numerous differences between a limited liability partnership and an ordinary partnership. Which one of the following is not a valid difference? a) Limited
There are numerous differences between a limited liability partnership and an ordinary partnership. Which one of the following is not a valid difference?
a) Limited liability partnerships are incorporated whereas ordinary partnerships are not.
b) An ordinary partnership is regulated by partnership law, whereas limited liability partnerships are never regulated by partnership law.
c) A limited liability partnership has a corporate personality, whereas an ordinary partnership does not.
d) Partners of an ordinary partnership cannot be disqualified, whereas partners of a limited liability partnership can be.
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