Which One of the Following Statements Is Correct with Respect

question 199

Multiple Choice

Which one of the following statements is correct with respect to the liability of partners?

• A) When a partner enters into a partnership arrangement, he can only lose what he has invested in that partnership.
• B) A general partner is responsible, independent of what he has invested, for any losses caused to outsiders through the partnership business if the assets of the partnership are not enough to cover the claim.
• C) If a third party is injured because of an activity carried on by the partnership, that third party can only go after the personal assets of a partner if the assets of the partnership are not enough to provide compensation and the damage was actually caused by the conduct of that partner.
• D) A partner can protect himself from any liability beyond his investment if one of the other partners specifically agrees in the partnership agreement to be responsible for all such liability.
• E) If there are three equal partners in a partnership, an injured third party can only collect one third of the claim from any one partner.

Understand the concept of emerging adulthood and its characteristics.

Identify the physical and cognitive changes occurring in late adulthood.

Recognize the distinctions between adolescent and adult life phases in contemporary industrialized societies.

Describe rites of passage and their significance in marking the transition to adulthood.