Cameron and Andrew Each Invested $45 000 in a Partnership

question 11

Multiple Choice

Cameron and Andrew each invested $45 000 in a partnership where they agreed to share profits as Cameron: 30%; Andrew 70% . The partnership business was unsuccessful and now has zero assets. In addition, they are being sued for $100 000 by a supplier for non-payment of invoices. What is the amount for which Andrew could be held personally responsible if the lawsuit is successful? (Ignore any possible legal costs.)

• A) Zero
• B) $45 000
• C) $70 000
• D) $100 000