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You are getting ready to become a partner in an accounting partnership. Before you sign up, they tell you that they owe the bank $500,000

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You are getting ready to become a partner in an accounting partnership. Before you sign up, they tell you that they owe the bank $500,000 on a building loan and are paying $100,000 on a malpractice claim of a partner not there anymore. The partnership tells you that they will be paying these out of future profits and thus out of your share. Can they do this? a. they will have to increase your partnership share to compensate you for this debt b. these aren't your debts so you should not have to pay for them c. Yes of course, you have been put on notice of the debt d. no, they have to make a special adjustment to pay you back your share A person who files the necessary paperwork with the state to start the corporation and then steps out (even though this person could be an owner) is called: a. officer b. incorporator C. subscriber d. director e. promoter f. shareholder

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