Multiple Choice:

a. I and II

b. I, II, and III

c. II only

d. I only

e. II and III

Fitzgerald and Kennedy were roommates in college and began to sell custom-designed T-shirts with dormitory logos. On each shirt they put a small logo of their own, which read "Dorm Shirts." They both contributed to the design, production, and marketing of the T-shirts and split any profits. Eventually, the shirts became so popular that the roommates began plans to expand their operations and offer other apparel (such as sweatshirts) with dormitory logos. They ultimately locate Johnson, who agrees to finance the expansion with a $50,000 contribution. Johnson forms Dorm Apparel L.P. and has his counsel draft a limited partnership agreement that names Fitzgerald and Kennedy as general partners and Johnson as a limited partner. The business expands rapidly and initially sales are so good that Johnson often pitches in by helping with design, production, and marketing. Eventually, a few years later, the partnership's expenses and debt outpace its revenue, and Dorm Apparel defaults on the loan to Big Bank. Which of the following would manage Dorm Apparel, L.P.? 1. Fitzgerald and Kennedy. II. Johnson. III. Dorm Apparel, L.P.'s board of directors