Shannon Has Just Become a Partner in a & R

question 36

Multiple Choice

Shannon has just become a partner in A & R Accounting Partnership.Her capital contribution is $10,000,which she paid from her savings.Which of the following is correct with respect to Shannon's liability for partnership obligations?

• A) Shannon has no liability for partnership debts that existed at the time of her admission as a partner.
• B) Shannon is liable only to the extent of her capital contribution for partnership debts that occur after her admission as a partner.
• C) Shannon has unlimited personal liability for all partnership debts regardless of whether they were incurred before or after she became a partner.
• D) Shannon has unlimited personal liability for all partnership obligations that occur after she became a partner;she has liability to the extent of her capital contribution for obligations that existed at the time she became a partner.

---

Definitions:

Perspective Of Others

The ability to understand and consider the viewpoints, feelings, or situations of other people.

Liberal Feminists

Advocates who focus on achieving gender equality through political and legal reform within the framework of liberal democracy.

Gender Differences

The distinctions in characteristics and behaviors typically associated with being male or female, influenced by biological, social, and cultural factors.

Socialization

The process by which individuals learn and adopt the norms, values, and behaviors appropriate to their society.