A partner uses her own truck to pick up some partnership supplies,which she pays for with her personal check.This partner has the right to be ________ for payments made from her personal funds.
A)indemnified
B)investigated
C)adjudicated
D)indentured

Question

Quizplus · Accepted Answer

Closely related to the duty to account is the right of a partner to be indemnified for payments made from personal funds and for personal liabilities incurred during the ordinary conduct of the business.For example,a partner uses her own truck to pick up some partnership supplies,which she pays for with her personal check.The partner is entitled to be reimbursed for the cost of the supplies and for her cost of picking up the supplies,including fuel.

A Partner Uses Her Own Truck to Pick Up Some