If the bank loan cannot be paid off after sale of the partnership assets,who is liable for the remainder of the loan?
A) No one is liable for the remainder of the loan because the partnership is dissolved.
B) All three partners equally,but Ava may not pay Milton's share of the debt.
C) The debt is automatically split between Ava and Hiro.
D) All three partners equally,but Ava may pay Milton's share of the debt.
E) Ava,if she continues the partnership after dissolution.
Correct Answer:
Verified
Q71: Pietro and Avana have a partnership importing
Q72: Which of the following is true about
Q73: Is Martin correct that Bruno can be
Q74: Is Martin correct that they will lost
Q75: Which of the partners can demand that
Q77: Which statement is true regarding whether the
Q78: In what order should the partnership's debts
Q79: [Candy Company] Milton,Ava,and Hiro own a candy
Q80: Is Martin correct that Bruno can be
Q81: Which of the following is true about
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents