Multiple Choice
Which one of the following statements is TRUE regarding a partner's personal liability for partnership assets?
A) LLC members can never be liable for entity debts.
B) In a limited partnership, all partners have limited liability for partnership debts.
C) In a limited liability partnership, the partner might be subject to liability for other partners' malpractice.
D) In a general partnership, all partners are liable for entity debts
Correct Answer:
Verified
Correct Answer:
Verified
Q31: Sharon contributed property to the newly formed
Q32: An examination of the RB Partnership's tax
Q35: Molly is a 30% partner in the
Q35: Match each of the following statements with
Q37: Which of the following statements is always
Q38: Xena and Xavier form the XX LLC.Xena
Q51: Match each of the following statements with
Q187: Match each of the following statements with
Q191: A limited partnership (LP) offers all partners
Q247: Debt of a limited liability company is