A partner <u>cannot</u> be held liable for a partnership obligation only if he or she participated in, or knew about, whatever it was that gave rise to the obligation.
<h3>What is
partnership?</h3>
Partnership arrangements come in many different forms. One type of business where partners may have minimal liability is a partnership where all participants share profits and liabilities equally. Additionally, there is the so-called "silent partner," when one party does not participate in the day-to-day management of the company.
- An agreement between two or more people to manage a business' operations and divide its assets and liabilities is known as a partnership.
- All partners in a general partnership corporation split the company's assets and debts equally.
- Lawyers and other professionals frequently create limited liability partnerships.
A partnership may have tax advantages over a corporation.
To learn more about partnership from the given link:
brainly.com/question/22848646
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The 5 Partnership Firms:
(Chronological order)
1) "Contract for Partnership"
2) "Maximum number of Partnership is 20"
3) "Carrying on business with Partnership"
4) "Sharing on profit with Partnership"
5) "Mutual Agency in a Partnership"
These are the five profiles of Partnership in any corporate agency
For imports:
You import when there is lack of production in your own country
or when another country offers a cheaper price and/or better quality good than your own country's industry
for exports:
production surplus.
Answer:
9.59%
Explanation:
The computation of the weighted-average interest rate used for interest capitalization purposes is shown below:
<u>Particulars Amount Interest </u>
9%, 5-year note payable $2,458,400 $221,256
10%, 4-year note payable $3,504,400 $350,440
Total $5,962,800 $571,696
So, Weighted-average interest rate is
= $571,696 ÷ $5,962,800
= 9.59%
