R is the incoming partnership of Hot-Chicken and Wings- Partnership. What are the liabilities of R? * (1 Point) () Debts before and after he is admitted to the partnership. O None of the above () Debts after he is admitted to the partnership. O) Debts before he is admitted to the partnership. H promised to contribute P300,000.00 to the partnership. A, on the other hand, being a popular accountant, promised that he will give 8 hours every week to ensure that the books of the partnership are carefully managed. H was invited by another partnership to join them by contributing P250,000.00. H came to you to seek guidance. What will you tell H? * (1 Point) OH cannot join the partnership because he is categorized as an industrial partner. OH may join the partnership because a lesser capital is needed by the new partnership. OH cannot join the partnership because he must be loyal to only one partnership. OH may join the partnership because as long as it is not a competition to his existing partnership.C promised that in order to help the partnership start its business, he will contribute P1Million as capital. Now that the partnership is about to begin, the partners demanded C to give his promise. However, C escaped and went abroad without any date of return. The Securities and Exchange Commission found out about how C escaped his liability so it ordered the dissolution of the partnership. What kind of dissolution is applied? * O By operation of law Extrajudicial None of the above O Judicial D was convicted of estafa. He has no more money to pay the damages. The court found out that he is a partner to the most successful partnership in Cavite. Can the court go against the properties of the partnership so that D can pay the damages? * Yes. Dis a co-owner of the properties of the partnership so it can be used to pay for all his debts. Yes. D contributed to the success of the partnership so he can get his portion of the assets. O No. The properties of the partnership cannot be the subject of legal support. O No. The properties of the partnership cannot be executed against the personal debts of partners.The limited partnership has debts to the following: X - coffee supplier N - general partner for his P50,000 advances M - limited partner What is the order of asset distribution? * O X N, M O None of the above O MX N O X, M, N