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Identify the Correct Statement About a Limited Liability Partnership (LLP)

Question 57

Multiple Choice

Identify the correct statement about a limited liability partnership (LLP) . 


A) The controller of a limited liability partnership is responsible for the negligence and irresponsibility of the general partners.
B) A limited partner of a limited liability partnership is responsible for the general management of the partnership business.
C) A limited partner of a limited liability partnership is liable to pay tax on all the partnership income.
D) A general partner of a limited liability partnership is personally liable for all business debts.
E) A limited partner of a limited liability partnership is responsible for the negligence and irresponsibility of all general partners.

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