In Deciding Whether Property Owned by a Partner Before Formation

question 66

Multiple Choice

In deciding whether property owned by a partner before formation of the partnership and used in the business is a capital contribution that belongs to the firm,a court will consider which of the following?

• A) Whether the property was improved with partnership funds
• B) Whether the property was carried on the books of the partnership as an asset
• C) Admissions or declarations of the partners
• D) All of these would be considered.

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Definitions:

Restrictions On Voting

Laws or policies that limit the eligibility of citizens to participate in the electoral process.

American History

The study and chronology of past events in the territory of the present-day United States, from pre-colonial times to the present.

Suffrage

The right to vote in political elections.

Expanded

Describes something that has been made larger or more extensive.