Which of the Following Is NOT True About Partnerships

question 23

Multiple Choice

Which of the following is NOT true about partnerships?

• A)Personal creditors of the individual partner have first call against partnership assets.
• B)A partnership is sometimes treated as a separate entity.
• C)A partnership may be sued in the firm's name,and,upon exhaustion of assets,the plaintiff may now go after the personal assets of any of the partners.
• D)Dower rights do not apply to partnerships.
• E)Generally,a person is liable only for the obligations of a partnership created while she or he is a member of the firm.

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Definitions:

Hans Selye

A pioneering Hungarian-Canadian endocrinologist known for his research on the stress response and for introducing the concept of "General Adaptation Syndrome".

Physiological Arousal

A state of physical alertness or excitement, which can be triggered by emotions, thoughts, or external stimuli, affecting bodily functions.

Fight-or-flight Response

A physiological reaction that occurs in response to a perceived harmful event, attack, or threat to survival.

Walter Cannon

A physiologist who coined the term "fight or flight" to describe the body's response to stress, and made significant contributions to understanding the autonomic nervous system.