Which of the Following Is True of a Partnership

question 45

Multiple Choice

Which of the following is true of a partnership?

• A) Neither partner is personally liable for the debts and obligations of the business.
• B) Both partners are personally liable for the debts and obligations of the business.
• C) The partner who owns the larger share of the partnership is liable for the debts and obligations of the business.
• D) The partner who owns the smaller share of the partnership is liable for the debts and obligations of the business.

---

Definitions:

Reflective Thinking

The process of actively and skillfully conceptualizing, applying, analyzing, and/or evaluating information.

John Dewey

An American philosopher, psychologist, and educational reformer whose ideas have been influential in education and social reform.

Active

Engaged in action; not passive.

Persistent

Exhibiting steadfastness and determination in action or belief, often in spite of obstacles or discouragement.