The Liability of Incoming Partners for Partnership Debts Is Limited

question 11

Multiple Choice

The liability of incoming partners for partnership debts is limited to:

• A)All debts of the partnership.
• B)Debts incurred since they joined the partnership.
• C)Debts for which they have given a personal guarantee.
• D)All unsecured debts.

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Definitions:

Central Executive

A component of working memory model that acts as a control system, overseeing attentional processes, and coordinating the information in the system's other components.

Shifts of Attention

The process of changing the focus of cognitive resources from one object or task to another.

Working Memory

A brainpower mechanism with a bounded ability, in charge of temporarily preserving data for future manipulation.

Chunking

A memory strategy involving grouping information into larger, manageable units or chunks.