Which of the Following Is True Regarding Any Responsibility of Matt

question 38

Multiple Choice

Which of the following is true regarding any responsibility of Matt to share in losses?

• A) Matt assumed no liability for the partnership beyond the capital he invested.
• B) Matt has a legal obligation to share equally in losses with the general partners.
• C) Matt would be responsible for one-half of any losses with the two general partners having liability for the other half.
• D) Matt has no liability for losses at all.
• E) Matt has liability for losses only if the general partners are insolvent.

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