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answer the question (10 points) 1) Ted and Wally are limited partners in T&W Enterprises, a limited partnership. To avoid personal liability for partnership obligations,

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answer the question

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(10 points) 1) Ted and Wally are limited partners in T&W Enterprises, a limited partnership. To avoid personal liability for partnership obligations, they must not a. acquire an interest in the firm. b. contribute cash or other property to the firm. c. undertake any managerial responsibilities. d. all of the above. (10 points) 2) Larry is a limited partner in Associated Contractors, a limited partnership. Debts incurred by the firm come due, and the firm cannot pay them. Larry is liable a. in proportion to the total number of partners in the firm. b. to no extent. c. to the extent of his capital contribution. d. to the full extent of the debts

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