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A Limited Partnership (LP): I.is governed by the laws of the state in which it is formed. II. provides liability protection to its general partner.

A Limited Partnership (LP):

  1. I.is governed by the laws of the state in which it is formed.
  2. II. provides liability protection to its general partner.
  3. III. does not offer pass-through taxation benefits of partnerships.

a.L

b.III

c.I, II and III

d.Both I and II

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