Which of the following is an additional feature of a limited liability partnership compared to a limited partnership?
A) It has a general partner who does not participate in the day-to-day operations of the partnership.
B) It limits the personal liability of limited partners to their contribution in the business.
C) It restricts the general partner from taking high-risk projects.
D) It protects each partner from any malpractice or negligence of another partner's actions.

Question

Quizplus · Accepted Answer

A limited liability partnership protects each partner from any malpractice or negligence of another partner's actions. This is not a feature of a limited partnership, which only limits the personal liability of limited partners to their contribution in the business. Choice A describes a limited partnership, and Choice C is not a specific feature of either partnership structure.

Which of the Following Is an Additional Feature of a Limited