Mike,Randy,and Steve Are Partners of a Partnership

question 41

Multiple Choice

Mike,Randy,and Steve are partners of a partnership.Mike and Steve loan the partnership $10,000 each.Which of the following statements is true?

• A)Randy is a debtor of the partnership.
• B)Mike and Steve are the sole owners of the partnership.
• C)Mike and Steve are both owners and creditors of the partnership.
• D)Mike,Randy,and Steve are all owners and creditors of the partnership.

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Definitions:

Party Organization

The structure and systems established by a political party to pursue its objectives, including election strategies, fundraising, and membership development.

Think Tanks

Organizations or groups dedicated to research and advocacy on topics such as social policy, political strategy, economy, military, technology, and culture.

Congressional District Committees

Local or regional organizations within a political party responsible for organizing political activities and strategies in a specific congressional district.

National Convention

A large gathering, typically held by a political party, to nominate presidential and vice-presidential candidates and to ratify the party platform.