Question

A limited partner is liable

Question content area bottom
Part 1
A.for only his or her own share of the​ partnership's debts.
B.only up to the amount invested by that partner.
C.for his or her own share of the​ partnership's debts and contingently liable for the other partners shares.
D.for none of the​ partnership's debts.

Answer 1

A limited partner is only liable for their own share of the partnership's debts and not personally responsible for the entire amount.

Step-by-step explanation:

A limited partner is liable for only his or her own share of the partnership's debts. They are not personally responsible for the debts of the partnership beyond their initial investment. This means that their personal assets are protected and they cannot be held accountable for the full amount of the partnership's debts.