Question: Which is the correct statement regarding a Limited Liability Company and a Limited partnership is: The limited liability company uses an operating agreement and the

Which is the correct statement regarding a Limited Liability Company and a Limited partnership is: The limited liability company uses an operating agreement and the limited partnership uses a partnership agreement. The limited partnership has a general member who does not have unlimited personal liability for the debts and obligations for the partnership. The limited liability company is only available to corporations. The limited liability company has a general partner who has unlimited personal liability for the debts and obligation for the partnership

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