Engineering Economy

Which is true about partnership ?

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Which is true about partnership ?

A. It has a perpetual life
B. It will be dissolved if one of the partners ceases to be connected with the partnership
C. It can be handed down from one generation of partners to another
D. Its capitalization must be equal for each partner

In case of bankruptcy of a partnership________________?

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In case of bankruptcy of a partnership________________?

A. The partners are not liable for the liabilities of the partnership
B. The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities
C. The partners personal assets are attached to the debt of the partnership
D. The partners nay sell stock to generate additional capital

Is an artificial being created by operation of law, having the right of succession and the process, attributes and properties expressly authorized by the law or incident to its existence ?

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Is an artificial being created by operation of law, having the right of succession and the process, attributes and properties expressly authorized by the law or incident to its existence ?

A. Corporation
B. Property
C. Partnership
D. Organization