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What Is the Major Way in Which the Roles and Obligations

Question 35

Multiple Choice

What is the major way in which the roles and obligations of the owners of a limited liability partnership differ from the roles and obligations of limited partners in a limited partnership?


A) The owners of a limited liability partnership have personal obligation for debts incurred by the company.
B) There is no separation between the company and its owners in a limited liability partnership.
C) The owners of a limited liability partnership can withdraw from the company without the company being dissolved.
D) The owners of a limited liability partnership can take an active role in running the company.
E) The owners of a limited liability partnership are responsible for the negligence of other partners.

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