Which of the Following Is True Under the Uniform Partnership

question 55

Multiple Choice

Which of the following is true under the Uniform Partnership Act regarding personal liability of partners for obligations of the partnership when the partnership itself is liable?

• A)If a partnership is liable,each partner only has personal liability in proportion to the number of partnership members.
• B)If a partnership is liable,each partner only has personal liability in proportion to the way in which losses are allocated.
• C)If a partnership is liable,each partner has unlimited personal liability.
• D)Partners do not have personal liability for obligations of a partnership when the partnership itself is liable.
• E)If a partnership is liable,each partner only has personal liability in proportion to the way in which profits are allocated.

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Definitions:

Perfection

The state or condition of being free from any flaws or defects, often considered as an unattainable ideal in various contexts.

Prime Motive

The main or primary reason that drives an individual to act or behave in a certain way.

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Measures and protocols designed to protect people, property, or information from harm or unauthorized access.

Freud

Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology.