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Real Estate Principles 3rd Edition by David Ling,Wayne Archer
Edition 3ISBN: 978-0073377322Real Estate Principles 3rd Edition by David Ling,Wayne Archer
Edition 3ISBN: 978-0073377322 Exercise 23
Which statement is false concerning the limited partnership form of ownership
A) The general partner has nearly complete control and is liable for debts and actions of the partnership.
B) The limited partners have little management control and are not liable except to the amount of their investment.
C) The limited partners cannot enjoy tax deduction benefits, but the general partners can.
D) The partnership is not a taxable entity.
E) None of the above.
A) The general partner has nearly complete control and is liable for debts and actions of the partnership.
B) The limited partners have little management control and are not liable except to the amount of their investment.
C) The limited partners cannot enjoy tax deduction benefits, but the general partners can.
D) The partnership is not a taxable entity.
E) None of the above.
Explanation
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The correct answer is option C. The limi...
Real Estate Principles 3rd Edition by David Ling,Wayne Archer
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