Ralph, a Partner, Doing Partnership Along with Gilbert and Vicky

question 47

Multiple Choice

Ralph, a partner, doing partnership along with Gilbert and Vicky, during course of the partnership, pays a sum of $4,000 to one of the suppliers out of his personal account. The partnership firm will have to pay back this amount to Ralph as per the partner's right to _____.

• A) profits and losses
• B) indemnification
• C) compensation
• D) management
• E) derivative action

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Definitions:

Partially Correct Answer

A response to a question that is not entirely wrong but lacks some accuracy or completeness.

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To recognize the existence, truth, or fact of something, often showing appreciation or validation.

Criticism

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Task Analysis

The process of breaking down a task into smaller steps or components to understand and teach the required skills.