A firm has two partners: Jim and Bill. Jim owns 60% of the partnership and Bill owns 40%. In which of the following transactions will the partnership be held responsible for an individual partners' actions?

A) Jim signs a contract as a guarantor for Bill's personal loan.
B) Jim buys a laptop on credit for personal use.
C) Bill signs a contract to buy furniture for official use in the partnership.
D) Bill defaults on payment of his personal credit card bill.


C) Bill signs a contract to buy furniture for official use in the partnership.

Business

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