Suppose That Tracy and Pat Start a Business

question 256

Multiple Choice

Suppose that Tracy and Pat start a business. Because of a series of bad decisions by Tracy, the company goes bankrupt, owing a total of $50,000. Tracy is penniless and Pat is a millionaire. If the company were organized as a partnership, Pat would be responsible for

• A) over $1 million of debt.
• B) $50,000 of debt.
• C) $25,000 of debt.
• D) $0 of debt.

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Definitions:

Cranking Control Circuit

An electrical circuit in vehicles designed to facilitate the starting of the engine.

High Current Circuit

An electrical circuit designed to handle large amounts of current, typically used in power distribution or large electrical devices.

Starter Relay

An electrical device that transmits power to the starter motor, initiating the engine's operation in a vehicle.

Starter Solenoid

An electromagnetic switch that engages the starter motor of a vehicle, initiating the engine's starting process.