Which of the following statements is true concerning the similarities between a limited partnership and a corporation?

A. Each is created under a statute and must file a copy of its organizational document with the proper state authorities.
B. All corporate shareholders and all partners in a limited partnership have limited liability.
C. Both are recognized for federal income tax purposes as taxable entities.
D. Both are allowed statutorily to have perpetual existence.

Answer: A. Each is created under a statute and must file a copy of its organizational document with the proper state authorities.