Which of the Following Is True About Liability of Partners

question 62

Multiple Choice

Which of the following is true about liability of partners in a general partnership?

• A) Partners have limited liability for the organization's debts.
• B) Partners personal assets, which are not associated with the partnership, may not be claimed by the creditors.
• C) From a creditor's perspective, the liability of each partner extends only to a pro rata share.
• D) Any partner who has to pay beyond his pro rata share will have to make use of his future buyout interest.
• E) A partner having unlimited liability will be jointly and severally liable for the partnership's obligations.

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Definitions:

Phonemes

The basic units of sound in a language that distinguish one word from another.

Garden Path Sentences

Sentences designed to mislead the reader's initial interpretation, necessitating a reanalysis to grasp the intended meaning.

Syntactical Inference

The process of deriving meaning or conclusions from the structure and order of words in a sentence.

Selective Looking Experiment

A selective looking experiment investigates how people can focus their attention on a specific task or object while ignoring other stimuli, demonstrating selective attention.