Question
Which of the following statements about limited liability partnerships (LLPs) is false ? a.Even innocent partners in LLPs are liable for the ordinary debts of
Which of the following statements about limited liability partnerships (LLPs) isfalse?
a.Even "innocent" partners in LLPs are liable for the ordinary debts of the partnership, and can lose their share of the partnership's assets.
b.Partners in LLPs are provided with a partial liability shield, if they are "innocent."
c.It is possible to become a limited liability partner inadvertently.
d.Only certain professionals may form LLPs, which must identify themselves as such.
e.LLPs were created to enable professionals to gain some of the advantages available to others through incorporation.
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