Which of the following statements is correct with respect to limited partnerships? (f "3. 1) A limited partner always has limited liability; they are exactly like a shareholder in a corporation. \"3. 2) A limited partner can lose his status as a limited partner by participating in the management of the business. 3| 3) A limited partnership is created where all of the partners state in the partnership agreement that they will not be responsible for debts arising out of the partnership business and register this with the government. \"3. 4) Limited partnership refers to the fact that some partnerships are only created for a limited period of time