Sunday 3 June 2012

John and Jake are partners in a bowling alley.

John and Jake are partners in a bowling alley. Business has been bad lately, and they need more operating capital, so they invite Lisa to become a partner. What liability does Lisa have for partnership debts?
A. She owes one third of all the partnership debts.
B. She owes an equal share of all partnership debts.
C. She owes an equal share in all debts incurred after she became a partner.
D. Her liability is limited to the amount she invested.
 

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