Question

Which is true for a limited liability partnership (LLP)?

A. All partners are free from liability.


B. All partners have personal liability.


C. All partners are limited from personal liability in certain situations.


D. All partners are required to be general partners.

Answer 1

The answer is C

Step-by-step explanation:

Gradpoint

Answer 2

All partners are limited from personal liability in certain situations.

Step-by-step explanation:

Limited partnerships and limited liability partnerships offer some of their owners limited personal liability for business debts. One partner is considered a general partner. The general partner makes decisions and has increased liability.