Question

which statement is true about partnerships?
a in a limited liability partnership, only one partner manages the business.
b in a limited partnership, partners cannot lose the money they have invested.
c in a limited partnership, every partner is responsible for the companys actions.
d in a limited liability partnership, all partners are limited from liability in some situations.

Explanation:

• Option A: In a limited liability partnership, multiple partners can manage the business, so A is false.
• Option B: In a limited partnership, limited partners can lose their invested money if the business fails, so B is false.
• Option C: In a limited partnership, only general partners are fully responsible for the company's actions; limited partners have limited liability, so C is false.
• Option D: In a limited liability partnership, partners are protected from personal liability for some actions (like other partners' malpractice in some cases), so D is true.

Answer:

D. In a limited liability partnership, all partners are limited from liability in some situations.