Which of the Following Is NOT True About Partnerships

question 16

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

---

Definitions:

Advance Agendas

Planned outlines or lists of items to be discussed or actions to be taken in a meeting, distributed in advance to participants.

Ethical Entrepreneurship

The pursuit of innovative business practices that prioritize ethical considerations, sustainability, and positive social impact.

Management Function

Activities performed by managers to plan, organize, lead, and control an organization's resources to achieve its goals.

Retail Store Chain

A series of retail outlets owned by the same company, offering the same or similar merchandise.