Which of the Following Statements Is TRUE

Multiple Choice

Which of the following statements is TRUE?

A) Both limited partnerships and general partnerships come into existence as soon as two or more people start carrying on business with a view to a profit.
B) Both limited partners and general partners have unlimited liability for the obligations of the partnership.
C) All partners in both limited partnerships and general partnerships are entitled to give advice regarding management.
D) In a limited partnership, the liability of all partners for the obligations of the partnership is limited.
E) A limited partner can control the general partner without losing their limited liability as a limited partner.