Which of the Following Is True About a Family Limited

Multiple Choice

Which of the following is true about a family limited partnership?

A) The family limited partnership has the same advantages and disadvantages as a proprietorship.
B) In a family limited partnership, the majority of the partners are related to each other as spouses, parents, grandparents, siblings, cousins, nieces, or nephews.
C) The family limited partnership has fewer benefits than other limited liability partnerships.
D) Only spouses, parents and siblings can form a family limited partnership.