Identify which of the following statements is true.
A)All of the partners in a limited partnership have limited liability.
B)A limited partnership must have at least two general partners.
C)A limited partnership cannot have a corporate general partner.
D)All of the above are false.

Question

Quizplus · Accepted Answer

In a limited partnership, not all partners have limited liability; there must be at least one general partner with unlimited liability. A limited partnership can have only one general partner, and a corporate entity can serve as a general partner, making all the given statements false.

Identify Which of the Following Statements Is True