The question:

Vincent is one of 50 limited partners in a real estate investment limited partnership. The general partner is Hoosier Corporation. Hoosier Corporation invested $500,000 in the partnership and each of the limited partners (all natural persons) invested $10,000. Hoosier has four shareholders. If the real estate partnership is dissolved at a time when it has debts exceeding assets, which of the following is true assuming the limited partners took no steps to jeopardize their status as limited partners? (a) Because having a corporation means that no partner in the limited partnership has unlimited liability, the limited partners would have unlimited liability. O b) Because having a corporation means that no partner in the limited partnership has unlimited liability, the shareholders of the corporation would have unlimited liability. ( c) The limited partners would need to contribute any amount needed to satisfy the debts, but assets of the corporation could not be seized. d) The limited partners would not need to contribute any amounts to satisfy the debts, but the assets of the corporation would be available for this purpose