P Flag question X invests the following assets in a new partnership $30,000 in cash, and equipment that cost $70,000 but has a book value of $34,000 and fair value of $40,000. Hampton, Capital will be credited for $64,000. Select one: True O False Previous page Next Two proprietorships cannot combine and form a partnership. Select one: O True O False A major advantage of the partnership form of organization is that the partners have unlimited liability. Select one: O True O False