Which of the following statement is correct with respect to a limited partnership? a

Accounting May 27, 2021

Which of the following statement is correct with respect to a limited partnership? a. A limited partner may not be an unsecured creditor of the limited partnership b. A general partner may not also be limited partner at the same time c. A general partner may be a secured creditor of the limited partnership d. A limited partnership can be formed with limited liability for all partner

Expert Solution

Answer

c .

Explanation

The correct option is C "A general partner may be a secured creditor of the limited partnership". A general partner may be a secured creditor of the limited partnership because he makes loan with secured interest.

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