Shannon Has Just Become a Partner in a & R

question 14

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 debts regardless of whether they were incurred before or after she became a partner.
• D) 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.

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Definitions:

Behavioral Treatments

Therapeutic approaches focusing on changing undesirable behaviors through conditioning, reinforcement, and other principles of learning and behavior modification.

Nonaddictive Substitute

A nonaddictive substitute refers to a compound or method used to replace addictive substances or behaviors with safer, non-addictive alternatives for treatment or harm reduction.

Genetic Basis

The underlying genetic make-up that contributes to the physical and behavioral traits of an organism.

Environmental Factors

Various external elements that can influence the development, behavior, and survival of organisms, including climate, geography, pollution, and human activities.