You form a partnership with your best friend. You have contributed 65% of the capital and can claim 65% of the net income. At the end of the first year, you discover that your partner has run up $40,000 in debt using the business' credit card. The maximum you could be liable for is:

MC Qu. 217 You form a partnership with your best... contrib ned 65% o the capital and can claim 65%of the net income. At the end of the first year, you discover that your par ner as un up S4 000 in debt using the business credit card. The maximum could be liable for is O so $40.000 O $20000 O s26.000 MC Qu. 217 You form a partnership with your best... contrib ned 65% o the capital and can claim 65%of the net income. At the end of the first year, you discover that your par ner as un up S4 000 in debt using the business credit card. The maximum could be liable for is O so $40.000 O $20000 O s26.000