QUESTIONS In a general partnership, the personal assets of the individual partners are subject to liability when the assets of the partnership are insufficient to satisfy the demands of a creditor. True or False O True False QUESTION 6 Property purchased using partnership funds but acquired in the name of an individual partner is nonetheless the partnership's property. True or False O True ? False QUESTION7 Once an LLC register's it's name in a particular state, that name is protected throughout the United States. True or False O True o False QUESTION 8 An accountant faces potential liability under The Internal Revenue Code and securities laws, but not under the common law. True or False O True False QUESTION 9 When determining the negligence of an accountant, the standard of care required is "The Reasonable Person standard. True or False o True False