Colleen is admitted to the partnership of Elmore & Monticello and makes an initial capital contribution of $10,000. Two years later, when liabilities of the partnership exceed its assets by $20,000, the firm is dissolved. Paul had loaned the firm $5,000 six months before Colleen was admitted; Scott had loaned the firm $8,000 three months after Colleen was admitted. Colleen has:
A) no liability to Scott.
B) liability to Paul and Scott only to the extent of her capital contribution.
C) no liability to Paul.
D) liability to Paul to the extent of her capital contribution and is personally liable to Scott.
D
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Faisal has been running a commercial real estate business for nearly 30 years. As he approaches retirement, he is content to simply lease the commercial space he currently has, rather than make new deals to develop additional properties. Faisal is using which grand strategy?
A. Stability B. Retrenchment C. Inducement D. Defensive E. Growth
An alternate term for a timing difference is a______________
Fill in the blank(s) with correct word
Increasing numbers of managers have adopted the socioeconomic model of social responsibility.
Answer the following statement true (T) or false (F)
Which one of the following statements is false?
A) The IRS must pay interest on excess withholding of federal income taxes. B) If your income is not subject to withholding you must pay estimated taxes. C) Employers are required to provide each employee an annual report of his or her wages. D) Employers are required to provide each employee an annual report of his or her federal tax withholdings.