Unlimited liability in a partnership

The word ‘unlimited liability’ in the partnership signifies that a partner: (1) Pays to begin to the partnership, however can’t be held liable for additional/extra funds. (2) Can be held personally accountable for any and each of the partnership’s debts. (3) Owns 100 percentage of the partnership. (4) Can unilaterally make each and every decision for the firm.

Can someone please help me in finding out the accurate answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Instance Diminishing Marginal Utility

Assume that you were permitted to eat as many ‘free’ jelly beans as you want at present. Subsequent to a few, you start to eat more slowly and to select some flavors over others. You might ultimately stop eating a ‘free’ and enjoyable good sinc

Q : Duopoly for two sellers What is that

What is that market termed in which there are just two sellers (or firms)? Answer: Duopoly terms to a market condition in which there are only two sellers.

Q : When is not total annual revenue

As per this demonstrated figure in below, unless something changes the total annual revenue of Robot Butlers, Inc. Can’t exceed: (1) $10,000. (2) $20,000. (3) $100 million. (4) $200 million. (5) $400 million.

Q : Higher income elastic demand for

For environmental quality the demand is income elastic for most people, that implies that prosperity and higher incomes tend to: (w) increase people’s concerns about air, water, and noise pollution. (x) reduce efforts to solve pollution problems

Q : Quality of government in income

Concern regarding the quality of government is income elastic for mainly people that imply that higher incomes and prosperity tend to: (w) increase people’s participation in political processes. (x) reduce efforts to solve political problems. (y

Q : Define Oligopoly and its characteristics

Explain the term Oligopoly? Also explain its Characteristics?

Q : Holding less liquid assets in investment

When households become more willing to hold less liquid assets, in that case the: (w) interest rate rises. (x) present value of future income falls. (y) interest rate falls. (z) stock market will crash. I need a go

Q : Market clearing price problem The

The markets in which the current market price surpasses the market clearing price experience: (1) Surpluses. (2) Declining scarcity. (3) Unexpected inventory shrinkage. (4) Shortages. (5) Raised market demands. Find out the right a

Q : Hiring labor for Profit Maximization

When the marginal revenue product of the very last worker hired is more than the marginal resource cost of the worker, then the firm: (1) Is experiencing rising returns to the scale. (2) Can raise its gains by hiring more labor. (3) Is maximizing the profit. (4) Must

Q : Slope of ray by origin in price

The slope of the ray by the origin which is tangent to point b equivalents to: (w) the reciprocal of the price elasticity of demand. (x) P / Q. (y) 0a / 0c. (z) the price elasticity of supply.

Discover Q & A

Leading Solution Library

Avail More Than 1446210 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1923395
Asked

3,689

Active Tutors

1446210

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment