What is the difference between a limited partnership and a limited liability partnership?
(A) In a limited liability partnership, only one partner manages the business.
(B) In a limited partnership, every partner is responsible for the company's actions.
(C) In a limited liability partnership, all partners are protected from liability in some situations.
(D) In a limited partnership, partners cannot lose the money they have invested.
Ans: (C) In a limited liability partnership, all partners are protected from liability in some situations.
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