​Smith & Jones, Accountants, Is a Limited Liability Partnership (LLP)

Multiple Choice

​Smith & Jones, Accountants, is a limited liability partnership (LLP) . The major features of an LLP are that it limits the personal liability of the partners and

A) ​it allows the partnership to continue as a pass-through tax entity.
B) ​LLP statutes do not vary from state to state.
C) ​it can only do business in the state in which it was formed.
D) ​only a few states have enacted LLP statutes.