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Joe is an accountant and plans to join a group of accountants. he compares a group in a general partnership with a group in a limited liability partnership (llp. what is one advantage of the llp that he would be particularly interested in?

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The thing that would interest him the most and is an advantage is that if one partner were to make a mistake, he would not be held accountable for it. Unlike the general partnership where everyone gets equal blame for the downfall of a company, in limited liability it is known what falls under whose jurisdiction and if someone causes the company to go bankrupt, the ones whose fault it's not can't get sued.
User Danilo Raspa
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