A Firm Has Two Partners: Jim and Bill

question 69

Multiple Choice

A firm has two partners: Jim and Bill. Jim owns 60% of the partnership and Bill owns 40%. In which of the following transactions will the partnership be responsible for the partners' actions?

• A)Jim signing the contract as a guarantor for Bill's personal loan
• B)Jim buying a laptop on credit for personal use
• C)Bill signing a contract to buy furniture for official use in the partnership
• D)Bill defaulting on payment of his credit card bill

---

Definitions:

Mechanoreceptors

Sensory nerve endings that respond to mechanical stimuli such as touch, pressure, vibration, and stretch.

Taste Description

The verbal expression used to describe the flavors perceived by the tongue, such as sweet, sour, bitter, salty, and umami.

Fattiness

The quality of containing or consisting of fat, often referring to the composition of food or the storage of fat in organisms.

Umami

One of the five basic tastes, recognized for its savory or meaty flavor, attributed to the presence of glutamates or nucleotides.