Fay Is Admitted to Global Associates,an Existing Partnership

question 10

Multiple Choice

Fay is admitted to Global Associates,an existing partnership.A partnership debt incurred before the date of her admission comes due.Fay is

• A)not liable for the debt.
• B)only liable for the debt up to the amount of her capital contribution.
• C)personally liable only to the extent the other partners do not pay.
• D)personally liable to the full extent of the debt.

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Definitions:

While Loop

A while loop in programming is a control flow statement that allows code to be executed repeatedly based on a given Boolean condition.

Even Numbers

Numbers that are divisible by 2 without any remainder, such as 2, 4, 6, and so on.

Branching Mechanisms

Control structures in programming that allow the execution path of a program to change based on conditions or values.