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    Business
  3. Study Set
    The Legal Environment
  4. Exam
    Exam 13: Choice of Business Entity, Sole Proprietorships, and Partnerships
  5. Question
    If a Limited Partner Actively Participates in Day to Day
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If a Limited Partner Actively Participates in Day to Day

Question 55

Question 55

True/False

If a limited partner actively participates in day to day management of the business they may forfeit their limited partner status and lose their limited liability for debts and liabilities.

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