Question

What is the difference between a limited partnership and a limited liability partnership?

In a limited partnership, partners cannot lose the money they have invested.


In a limited liability partnership, all partners are protected from liability in some situations.


In a limited liability partnership, only one partner manages the business.


In a limited partnership, every partner is responsible for the company’s actions.

Answer 1

in a limited liability partnerships, all partners are limited from liability in situations

Step-by-step explanation:

Answer 2

The answer is: in a limited liability partnerships, all partners are limited from liability in situations
Which means that in case the company under a limited liability partnerships went bankrupt and still have a lot of debts after liquidation, the personal wealth of the partners are not subjected to the debt's payment.