Question

Which one of the following is true of a limited partnership?

a. This association is based on equal status of partners.
b. It allows the organizer to retain control rather than sharing it.
c. Obligations and debts are shared equally among all partners.
d. Limited partners can remain secret.

Answer 1

The correct answer for the question that is being presented above is this one: "c. Obligations and debts are shared equally among all partners." The statement that is true of a limited partnership is that obligations and debts are shared equally among all partners.