As a limited partner, if Shahrukh Khan, takes on a managerial role with respect to the partnership's business. he will risk losing his \"limited" status and open himself up to the liability of a general partner. 0 True 0 False QUESTION 10 1 points Priyanka has been approached by Kim Kardashian. Kim Kardashian would like to provide legal services to Priyanka and Nick. is studying to become a lawyer. Once she passes the Ontario bar, she would like to create a limited Iiabili y partnership. What are some characteristics of a limited liability partnership? 0 All of these answers are correct 0 The LLP is the newest type of partnership in Canada, available only to certain professionals (such as lawyers and chartered accountants) whose governing bodies allow their members to use the limited liability option. 0 An LLP must register its name under the Business Names Act before it legally conducts business. 0 A limited liability partnership is created in Ontario when two or more people enter into a written partnership agreement that designates the partnership as an LLP and states that the Partnerships Act governs the L agreement. ! 1% _,.__._