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Sonia and Fred are partners in a CPA firm that was formed as a Limited Liability Partnership (LLP). If Sonia commits malpractic in the preparation
Sonia and Fred are partners in a CPA firm that was formed as a Limited Liability Partnership (LLP). If Sonia commits malpractic in the preparation of client financial statements, are the partner's personal assets at risk to pay damages caused by Sonia? a. Yes, Sonia's assets are at risk b. No, the LLP shields Sonia's personal assets from malpractice c. No, the LLP shields the personal assets of both partners from malpractice d. Yes, Sonia and Fred's personal assets are at risk
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