Shannon Has Just Become a Partner in a & R

question 2

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.Shannon:

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

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Definitions:

Basilar Membrane

A structure in the cochlea of the inner ear that plays a critical role in the sense of hearing by vibrating in response to sound, helping to translate sound waves into neural signals.

Olfactory Epithelium

The lining of the roof of the nasal cavity, containing a sheet of receptor cells for smell.

Papillae

Rounded bumps above the tongue’s surface that contain the taste buds, the receptors for taste.

Pinnae

The visible part of the ear that protrudes from each side of the head, playing a role in collecting sound vibrations and directing them into the ear canal.