Buckley is a general partner in Cut-Rate Shipping, LLLP, a limited liability lim-ited partnership, which cannot pay its debts. Buckley is personally li¬able for the debts
a. in proportion to the number of partners in the firm.
b. to no extent.
c. to the extent of his capital contribution.
d. to the full extent.
C
You might also like to view...
Marketers must judge each potential brand extension by how effectively it leverages existing brand equity from the parent brand, as well as how effectively, in turn, it contributes to the parent brand's equity
Indicate whether the statement is true or false
In Chapter 15's opening scenario on Blake Leeper, the key lesson is that ________
A) public relations writing can create extensive publicity B) celebrities should hire skilled public relations writers C) people with disabilities no longer face considerable barriers D) public relations writing is only as good as the actions behind it
Providers of more intangible services offer a "menu" of products, representing carefully prescribed value-added supplementary service built around the core offering
Indicate whether the statement is true or false
Sparrow Corporation The items listed below were identified while preparing a bank reconciliation for the checking account of Sparrow Corporation as of March 31, 2012. Sparrow's balance according to the general ledger ? Bank statement balance $18,500 Outstanding checks 2,700 A customer's NSF check returned by the bank 350 Bank service charges 100 Deposits in transit 1,000 Interest earned on the
checking account 60 Refer to the information presented for Sparrow Corporation. How will the customer's bounced checks be handled within a bank reconciliation? A) Add to the balance from the company records B) Subtract from the balance from the company records C) Add to the bank statement balance D) Subtract from the bank statement balance