answer each question with an explanation of each answer please

the rest of question 3

1. Multiple Choice Question 43 The partnership form of business organization a. b. has limited liability. is a separate legal entity. is a common form of organization for service-type businesses. enjoys an unlimited life. c. d. Answer: 2. Multiple Choice Question 48 An advantage of the corporate form of business is that b. it is simple to establish its owner's personal resources are at stake. it has limited life. I its ownership is easily transferable via the sale of shares of stock. c d. Answer: 3. Multiple Choice Question 54 Jack and Jill form a partnership. Jack runs the business in New York, while Jill Vacations in Hawail. During the time ill is away from the business, Jack increases the debts of the business by $20,000. Which of the following statements is true regarding this debt