What Is the Preferred Method of Resolving a Partner's Deficit

question 18

Multiple Choice

What is the preferred method of resolving a partner's deficit balance, according to the Uniform Partnership Act?

• A) Partners never have a deficit balance.
• B) The other partners must contribute personal assets to cover the deficit balance.
• C) The partnership must sell assets in order to cover the deficit balance.
• D) The partner with a deficit balance must contribute personal assets to cover the deficit balance.
• E) The partner with a deficit balance contributes personal assets only if those personal assets exceed personal liabilities.

---

Definitions:

Political

Pertains to the activities, actions, and policies used to gain and hold power in a government or to influence governance.

Ideological

Pertaining to a system of ideas and ideals, especially those that form the basis of economic or political theory and policy.

Works Council

A works council is a body representing workers, which discusses and sometimes negotiates with management regarding workplace issues, excluding wage negotiations which are often handled by unions.

Workplace-Level Committee

A group within a workplace tasked with addressing specific issues, often related to safety, ethics, or improvement.