A general partner has unlimited liability for the debts of the partnership only if he or she personally approved the decisions that resulted in those debts.
Correct Answer:
Verified
Q32: Unlike partnerships, if sole proprietorships find themselves
Q33: In a general partnership, all partners are
Q34: A recent study showed that partnerships are
Q35: Therese is a talented designer who wants
Q36: A limited partner is an owner who
Q38: The Uniform Partnership Act is law in
Q39: In a general partnership, all partners share
Q40: Attracted to the idea of being his
Q41: James and Reilly were arguing over who
Q42: Penny Pebble and Stuart Stone formed a
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