Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

choose a response to provide the best example of a general partnership a Andrew operates a jewelry repair shop $25,000 to open the business and

choose a response to provide the best example of a general partnership a Andrew operates a jewelry repair shop $25,000 to open the business and shares in the profit with Andrew only Andrew is personally liable for the debts of the business b Camellia and Maria are partners in a graphic design firm and are both personally liable for the debts of the business Camellia invested $45,000 into the business why Maria contributed the design software computer system and pay for drafting equipment they both share it in the profits of the business c gracela owns food fast a food delivery business she operates the business and is personally liable for his debts she has two employees author and Matthew Priscilla offered each of them the option to buy a 10% share of the business and they both decided to exercise the option they will be entitled to a share of the business profits and will also be responsible for business debt up to the amount of their initial investment d Zack and Eduardo operate a second hand clothing store together is that contributed the building in which the store operates manage the business and is personally liable for the the death of the business Ecuador invest at $10,000 in cash and works in the store several days a week but he is not personally liable for the debts of the business they both share in the profits of the business

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Managerial Accounting Version 3.0

Authors: Kurt Heisinger, Joe Ben Hoyle

1st Edition

1453399410, 9781453399415

More Books

Students also viewed these Accounting questions

Question

How to Construct a Stem and Leaf Plot

Answered: 1 week ago