Question 3
The Surrey Medical Supply Company was formed as a limited partnership. In this partnership, Victoria Lewin is one of the limited partners and Oscar Gould is a general partner. This information indicates that, with respect to the typical characteristics of limited partnerships,
Ms. Lewin has more freedom to opt out of the partnership than does Mr. Gould
Ms. Lewin has more liability for the debts of Surrey than does Mr. Gould
both Ms. Lewin and Mr. Gould participate in the day-to-day management of Surrey
the partnership will continue upon the death of Mr. Gould, whereas it will end with the death of Ms. Lewin
Correct answer: A