Wednesday, March 13, 2013

Accounting Midterm Exam ACG-2011: Question 17

A partnership that has two classes of partners, general and limited, where the limited partners have no personal liability beyond the amounts they invest in the partnership, and no active role in the partnership, except as specified in the partnership agreement is a:
correctLimited partnership.
General partnership.
Limited liability company.
Mutual agency partnership.
Limited liability partnership.

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