A Firm Has Two Partners: Jim and Bill

question 77

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 held responsible for an individual partners' actions?

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

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Definitions:

Health Care Services

A broad range of services provided by professionals to support individuals' health, including prevention, diagnosis, treatment, and management of illnesses and injuries.

Health Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured or provides reimbursement to the insured for expenses incurred from illness or injury.

Health Care Dollars

Refers to the financial resources allocated to the health care system, including government spending, private insurance, and out-of-pocket expenses by individuals.

Accountable Care Organization

A healthcare organization that ties provider reimbursements to quality metrics and reductions in the total cost of care for an assigned population of patients.