True/False
If a limited partner spent more than 500 hours in the company,he/she will be treated as general partner and will lose their limited liability protection.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q1: To maintain control over their ownership,many closely
Q2: Which form of ownership generally has the
Q4: If the partners fail to create an
Q5: An LLP does pay taxes as a
Q6: A limited partnership is a modification of
Q7: The LLC operating agreement is similar to
Q8: What are for-profit social ventures? What is
Q9: Partnership agreements do not cover how to
Q10: Most states do not require a Certificate
Q11: When choosing a form of ownership,the entrepreneur