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.