In a partnership:
A) the partner designated as the sole proprietor is fully liable for the debts of the business.
B) all general partners are fully liable for the debts of the business.
C) liability for the debts of the business are divided equally among all general partners.
D) there are no owners of the business and the managers are responsible for the business' debts.
Correct Answer:
Verified
Q65: A proprietorship is a:
A) legal entity with
Q66: A sole proprietorship can raise money for
Q67: Unlimited liability is a risk faced by:
A)
Q68: Which of the following statements about a
Q69: When a partnership goes into default:
A) each
Q71: A general partner in a partnership:
A) cannot
Q72: A partnership is similar to a sole
Q73: A business can continue on indefinitely if
Q74: A business owner's liability is always limited
Q75: Limited liability is a characteristic of:
A) corporations.
B)
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