As Owner of a One-Third Share of a Partnership, Josh

question 302

Multiple Choice

As owner of a one-third share of a partnership, Josh is legally liable for

• A) none of its debts.
• B) one-third of its debts.
• C) all of its debts.
• D) all of its taxes but none of its private debt.

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Definitions:

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A hierarchical structure of human needs, often depicted as a pyramid, where basic needs must be fulfilled before higher-level needs can be achieved.

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An influential American psychologist who founded the client-centered therapy and was a major contributor to humanistic psychology.