Which of the Following Statements Is Correct with Respect to Limited

Multiple Choice

Which of the following statements is correct with respect to limited partnerships?

A) There can be no limited partnerships in Canada.If limited liability is desired,a corporation must be created.
B) A limited partner can lose his status as a limited partner if he participates in the management of the business.
C) There can only be one limited partner in any partnership,no matter how many partners are involved.
D) A limited partner is totally protected and can lose no money.
E) A limited partnership is created where all partners state in the partnership agreement that they will not be responsible for debts arising out of the partnership business and register as such with the government.