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:

Commercial Icemakers

Machines designed for industrial or commercial use that produce large quantities of ice cubes or flakes for various business needs, such as in restaurants, bars, and healthcare facilities.

Industrial Icemakers

Machines specifically designed for large-scale production of ice, commonly used in industries such as food, hospitality, and healthcare.

Dispatching Rule

relates to guidelines or criteria used in manufacturing and operations management to prioritize and allocate tasks or resources, optimizing workflow and productivity.