Limited partners can lose their limited liability by:
A) Breaching their fiduciary duty to the limited partnership.
B) Actively managing the business of the limited partnership.
C) Serving as a paid consultant to the limited partnership.
D) Withdrawing from a limited partnership contrary to provisions in the limited partnership
agreement.
E) Investing too much in the partnership.
B
You might also like to view...
The high-low method requires the identification of the lowest and highest levels of total costs, not activity, over a period of time
Indicate whether the statement is true or false
Annuity payments are taxable to the extent that they represent interest earned rather than capital returned. What method is used to determine the taxable portion of each payment?
A) Annuitization ratio B) Marginal tax formula C) Surtax ratio D) Exclusion ratio