Which of the Following Is TRUE of the Assets of a Partnership

question 115

Multiple Choice

Which of the following is TRUE of the assets of a partnership?

• A) The partner who is more actively involved in the daily business affairs is considered to be the sole owner of the partnership's assets.
• B) Any new assets purchased by the partnership are jointly owned by each partner.
• C) When a partner contributes a particular asset to the firm, he is considered to be the sole owner of the asset.
• D) In the case of the liquidation of a partnership, the partners must be paid based on the profit sharing ratio of the partnership.

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Definitions:

Pathologized

The process by which behaviors, conditions, or groups of people are classified as unhealthy, abnormal, or deviant from a medical or psychological standpoint.

Accessibility

The degree to which a product, device, service, or environment is available to as many people as possible.

Stigma

A mark of disgrace associated with a particular circumstance, quality, or person, leading to discrimination or exclusion.

Mental Health Problems

A range of psychological, emotional, and behavioral issues that affect an individual's ability to function and lead a fulfilling life.