With Regard to Liability of Partners, Which of the Following

question 109

Multiple Choice

With regard to liability of partners, which of the following is true?

• A) A limited partner has unlimited liability beyond the amount of his initial investment.
• B) A general partner could not be liable for losses suffered by a client because of misapplication of funds unless he knew about or took part in the misapplication.
• C) A general partner who retires from the partnership by giving notice of his leaving to the other partners could still be found liable for debt pursuant to a contract made when he was a partner.
• D) A general partner has limited liability for any loss suffered because of the negligent act (e.g., omission) of one of her partners.
• E) The partnership, and thus the partners, are liable for any loss suffered because of a tort committed by its employee outside the course of his employment.

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Definitions:

Correlation Coefficients

Correlation coefficients are statistical measures that describe the extent to which two variables change together, indicating the strength and direction of a relationship.

Predictability

The extent to which future events or outcomes are known or can be forecasted, often based on analysis of available data or patterns.

Variable

Any factor, trait, or condition that can exist in differing amounts or types and can influence the outcome of scientific research or experiments.

Sampling Bias

A bias in which certain members of a population have a higher likelihood of being included in the sample over others, leading to a non-representative sample.