MrGreen Enters into a Partnership with IT Doctors LLP

question 44

Multiple Choice

Mr.Green enters into a partnership with IT Doctors LLP.Mr.Green's capital investment into the business is $10,000.Shortly after joining the new business,a client sues the IT Doctors LLP and wins a judgment of $750,000.How much is Mr.Green liable for?

• A)$10,000
• B)$100,000
• C)$750,000
• D)$0

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Definitions:

Total Variable

The total of all variable costs associateed with the production of goods or services.

Total Fixed

All expenses that are unchanged irrespective of the volume of production or output combined.

Total Variable Costs

The sum of expenses that vary directly with the level of production or sales volume.

Drones

Unmanned aerial vehicles (UAVs) operated by remote control or autonomous software, used for various purposes including photography, surveillance, and delivery.