In a Partnership

question 115

Multiple Choice

In a partnership

• A) partners are not liable for debts of other partners if there is no partnership agreement.
• B) each partner pays only his or her share of the liability even if one partner runs out of money before that partner's share is paid.
• C) a partner is not responsible for debts if another partner created the liability through some action that violated the partnership agreement.
• D) each partner is responsible for the debts even if the debt was the result of the actions of only one partner.
• E) each partner is responsible only for the debts he or she incurred.

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Definitions:

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