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.

---

Definitions:

Pancreatic Amylase

An enzyme produced by the pancreas that aids in digesting carbohydrates by breaking down starches into sugars.

Enteritis

Inflammation of the small intestine, which can cause a variety of symptoms including abdominal pain and diarrhea.

Enter

To go or come into a particular place or condition, often used in the context of data entry or entering a room.

Dyspepsia

A term that describes discomfort or pain in the upper abdomen, typically referred to as indigestion.