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:

Astereognosis

The inability to recognize objects by touch alone, often due to damage to the brain's sensory cortex.

Upper Motor Neuron

nerve cells that originate in the brain's cerebral cortex and project to the spinal cord, involved in the initiation of voluntary movements.

Hyperreflexia

An exaggerated response of the muscles following a stimulus, indicative of disturbances in the central nervous system.

Fasciculations

Involuntary, small, rapid muscle contractions or twitches visible under the skin, often benign but can be symptomatic of neurological conditions.