Which of the Following Statements About a Limited Liability Partnership

Multiple Choice

Which of the following statements about a limited liability partnership (LLP) is true?

A) an LLP has one or more general partners and one or more limited partners
B) partners in an LLP are liable only for their investments in the partnership
C) partners in an LLP are not liable for the misdeeds of another partner
D) only the general partners in an LLP can participate in management