If a Business Is Not Able to Pay Its Debts

question 37

True/False

If a business is not able to pay its debts, under a general partnership, the debt is transferred to the owners.

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Definitions:

Professional-Quality Message

Communication that is clear, concise, and well-organized, reflecting high standards of professionalism.

Extracellular Fluids

Fluids located outside the cells, providing a medium for nutrient and waste transport in the body.

Metabolic Function

Refers to the complex set of life-sustaining chemical transformations within the cells of organisms, including catabolism and anabolism.

Chemical Substances

Compounds or elements that consist of atoms and molecules, having specific chemical and physical properties.