Multiple Choice
Which of the following is true about asset distribution in an LLP?
A) If the LLP has been profitable,each partner will receive the net amount in his capital account.
B) The partners have liability for partnership obligations beyond the firms' assets.
C) An LLP partner has to contribute an amount equal to the negative balance in his account to pay creditors.
D) The creditors must sue the partner to force the partner to pay the debt.
Correct Answer:

Verified
Correct Answer:
Verified
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