QUESTION 6 Joe and Jane are each 50% owners of a business of partners. Joe is the general partner and Jane is the limited partner. The partnership earns $10,000 in profit. If the entire profit is distributed to the partners, how much will Joe and Jane receive? O a. Joe and Jane will receive $5,000 each. O b. Jane receives $7,500; Joe receives $2,500. c. Joe will receive $10,000 since he is the general partner Od Jane will receive $10 000 since she is the limited partner QUESTION 7 Joe and Jane are each 50% owners of a business of partners. Joe is the general partner and Jane is the limited partner. The partnership is dissolved as the business fails and there remains $25,000 in bills. If Jane contributed $10,000 at the start of the partnership, what are the liabilities of each partner? O a. Jane is responsible for $10,000; Joe is responsible for $15,000. O b. Jane is responsible for the entire $25,000 because she is the limited partner. O c. Joe and Jane are responsible for $12,500 each O d. Joe is responsible for the entire $25,000 because he is the general partner. QUESTION 8 Joe and Jane are partners in a business. Jane owns 75% of the business and Joe owns 25%. The partnership is dissolved as the business fails and a judgment of $1,000,000 is levied against the partnership. The day after the judgment, Jane disappears. If Jane can't be found, for what is Joe responsible? O a. None of the judgment since Jane deserted him O b. All of the judgment O c. $250,000 of the judgment since he is a 25% partner Od. $500,000 of the judgment since he is one of two partners