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Anna purchased a 20% general partnership interest in the ABC Limited Partnership for $10,000. Marcus is an 80% general partner. A few days after Anna
Anna purchased a 20% general partnership interest in the ABC Limited Partnership for $10,000. Marcus is an 80% general partner. A few days after Anna purchased her interest, the federal government fined ABC $1,000,000 for violating the Securities Exchange Act of 1934. Because Anna is a general partner:
a. the maximum amount of her liability is zero. | ||
b. the maximum amount of her liability is $200,000. | ||
c. maximum amount of her liability is $1,000,000. | ||
d. the maximum amount of her liability is $10,000. |
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