True or False: A person may be a general and limited partner in the same partnership at the same time.

The statement is true because a person can indeed hold both the status of a general partner and a limited partner in the same partnership. In a limited partnership, general partners manage the partnership and are personally liable for its debts, while limited partners have limited liability and typically do not participate in management.

Having both roles allows an individual to participate in the management of the partnership while also benefiting from limited liability on their investments. This dual role must be clearly defined in the partnership agreement to avoid confusion and ensure both partners are aware of their rights and responsibilities.

In considering the options, the one claiming that it's false is incorrect since it does not accurately reflect the legal framework that allows for such dual participation in partnerships.