Noah and Orin Do Business as Pest Control Partners

question 32

Multiple Choice

Noah and Orin do business as Pest Control Partners.In most states,for the purposes of suing and being sued,Pest Control Partners would be treated as

• A)an aggregate of the individual partners.
• B)a natural person.
• C)an entity.
• D)a non-existent party.

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Definitions:

Credit Memorandum

A document issued by a seller that reduces the amount owed by a buyer, typically due to a return or refund.

Note Receivable

A written promise for the amounts to be received by a party, often including interest, by another party.

Adjusted Cash Balance

The cash amount shown on a company's financial statements after adjustments for checks outstanding, deposits in transit, and other necessary adjustments.

NSF Check

A check that cannot be processed because the writer's account does not have sufficient funds, commonly known as a bounced check.