Which of the Following Statements Is True of Limited Liability

Multiple Choice

Which of the following statements is true of limited liability partnerships (LLP) ?

A) All the partners lose only their capital contribution in the LLP if the LLP fails.
B) The limited partners are personally liable for the debts and obligations of the LLP.
C) A limited partner whose negligent or intentional conduct causes injury cannot be held personally liable for his or her conduct.
D) If an LLP fails, the LLP's remaining assets are sold to help the largest stakeholder recover his or her investments in the LLP.