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Lewis Burke
on Nov 21, 2024

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Which of the following partnerships is distinguishable from other forms of partnership because the partners' liability for professional malpractice is limited to the partnership?

A) General partnership
B) Limited partnership
C) Professional partnership
D) Limited liability partnership
E) Loss limiting partnership

Limited Liability Partnership

is a partnership in which some or all partners have limited liabilities, protecting each partner's personal assets from debts and liabilities of the partnership.

Professional Partnership

A business organization formed by two or more professionals, such as lawyers or doctors, to provide services within their expertise.

  • Acquire knowledge on the protection mechanisms for owners within limited liability partnerships (LLPs) and limited liability companies (LLCs).
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MD
Michelle DavisNov 22, 2024
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