Which of the Following Is True of the Liability to Creditors

question 36

Multiple Choice

Which of the following is true of the liability to creditors in the process of continuation of a partnership?

• A) Withdrawing partners are liable for new obligations though they have given a notice of withdrawal.
• B) New partners are liable for prior obligations only to extent of contribution unless they agree to greater liability.
• C) Continuing partners are the only people liable for prior obligations.
• D) Withdrawing partners are liable for prior obligations even though they are released by novation.

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Definitions:

Delivering Pizza

The task of transporting and handing over pizza from the restaurant to the customer's location, often performed as a job by individuals.

Speed

The rate at which someone or something is able to move or operate.

Procrastination

Delaying a task for an invalid or weak reason.

Jump-Starts

Initiatives or actions taken to quickly start or accelerate a process, project, or activity.