Which of the following is not an attribute of a Limited Partnership?

The correct answer reflects a key characteristic of limited partnerships: limited partners do not have the authority to make business decisions on behalf of the general partners. In a limited partnership structure, there are two types of partners: general partners and limited partners. General partners manage the day-to-day operations and have full control over business decisions, while limited partners invest capital and enjoy limited liability, meaning their risk is confined to their investment in the partnership.

The involvement of limited partners is strictly financial, and their lack of authority in management distinguishes them from general partners. While they have a vested interest in the success of the partnership, they do not engage in management decisions or operations to protect their limited liability status. This structure is designed to encourage investment while safeguarding the interests of those who may not want to be involved in management.

In contrast, the other options address aspects of limited partnerships that accurately reflect their structure and function. Limited partners do indeed limit their risks to their investments, are entitled to a share of profits in the form of dividends, and may have restrictions on selling their interests, which typically requires notifying general partners. These features underscore the protective and passive nature of a limited partner's role within the partnership.