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Thepotemich [5.8K]
3 years ago
5

A general partner is responsible for any debts of the partnership, regardless of whether he or she was directly involved in the

transaction that created the debt.
Business
1 answer:
11Alexandr11 [23.1K]3 years ago
4 0

Answer: Yes it is true that A general partner is responsible for any debts of the partnership, regardless of whether he or she was directly involved in the transaction that created the debt.

<u>Explanation:</u>

In the case of the general partnership, all the partners have unlimited liability and the same authority. Here the term unlimited liability means that they are personally responsible for the debts of the firm. It means their personal properties like their cars, houses, etc will also be taken into consideration for paying back the debts. So whether the partner was involved directly or not in any debt transaction he will be liable for it.

There is an equal distribution of authority in general partnership. So this type of partnership is possible only in the case of small organizations but not in case big concerns.

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Answer:

The answer is C.

Explanation:

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As price level falls, value of money decreases because a unit of money will more of goods or services.

During this period people will want to hold less money because of the decrease in value and the excess money will be deposited in banks.

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The slope and position of the long-run aggregate supply curve
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<span>Suppose the Fed doubles the growth rate of the quantity of money in the economy. In the long run, the increase in money growth will change which of the following? Check all that apply.

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5 0
3 years ago
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Fess Hardware Store had net credit sales of $8,500,000 and cost of goods sold of $5,000,000 for the year. The Accounts Receivabl
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