Joel is a limited partner in the Snow Bird Limited Partnership. He invested $5,000 to buy his
interest. Joel is one of ten partners, two of whom are general partners. Snow Bird is now
insolvent, with debts exceeding assets by $96,000.
The partnership creditors sue all the partners
for these debts. How much additional money must Joel contribute?
A) $96,000 B) $9,600 C) $5,000 D) $0 E) $4,600
D
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a. True b. False Indicate whether the statement is true or false
Which of the following categories of goods and services is most likely to require an aggressive use of the selling concept?
A) shopping goods B) unsought goods C) necessary goods D) luxury goods E) complementary goods
The company with the natural business year tends to overstate its accounts receivable turnover, thus overstating its liquidity
Indicate whether the statement is true or false
When a seller requires that only certain dealers carry its products, its strategy is known as ________
A) horizontal restraint of trade B) intensive distribution C) vertical distribution D) disintermediation E) exclusive distribution