[Solved] A Limited Liability Partnership (LLP)is Different from a Limited Partnership

Question 27
Multiple Choice
arrowQuestion 27arrow

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

A)In a limited partnership there must be at least one general partner who has unlimited liability.
B)Limited partnerships are not restricted to the professions.
C)In a limited partnership,the partner's liability is limited to the total amount of capital contributions of all partners.
D)Unlike partners in an LLP,limited partners lose their limited liability if they participate in management.

10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.


Explore our library and get Business Law Homework Help with various study sets and a huge amount of quizzes and questions

Related Questions

Get Free Access Now!

Get free access by uploading any valuable academic documents


Invite your friends by sharing your unique referral link, and get a free access

Invite a friendInvite a friendInvite a friend
Join Us
Join Us

Sign up to get 5 free question for every quiz you visit. Or Subscribe and get instant access