Question
One of the following statements DOES NOT APPLY to a limited partner. Group of answer choices: He is liable for partnership debts contracted by the
One of the following statements DOES NOT APPLY to a limited partner.
Group of answer choices:
He is liable for partnership debts contracted by the partnership up to the amount of his capital investment.
He is required to make additional investment in the event that a partnership becomes bankrupt and cannot pay its creditors.
He shares in the net loss incurred by the partnership.
His share in the profits is equal to his profit and loss sharing ratio as agreed by all the partners.
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Creative Accounting, Fraud And International Accounting Scandals
Authors: Michael J. Jones
1st Edition
0470057653, 9780470057650
