Recent Changes in Partnership Law Allow Partnerships to Be Registered

Multiple Choice

Recent changes in partnership law allow partnerships to be registered as a "limited liability partnership" or LLP.When carrying on business as a limited liability partnership,non-negligent partners stand to lose:

A) their investment in the firm.
B) all of their personal assets if a successful claim is brought against the partnership on the basis of another partner's mistake.
C) absolutely nothing.
D) all of their personal assets except those protected from seizure under bankruptcy legislation.
E) assets jointly held with a spouse.