--%>

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.

   Related Questions in Microeconomics

  • Q : Negative income tax programs Negative

    Negative income tax programs attack poverty through: (w) levying heavy taxes on the poor to encourage them to work more. (x) providing transfers in kind to low income households. (y) providing cash subsidies to guarantee a minimum income to low income

  • Q : Example of Screening Nick answers ‘help

    Nick answers ‘help wanted’ ads through making phone calls and scheduling the interviews. Whenever a prospective employer asks for queries and resume Nick regarding his references and skills, then the firms are practicing an illustration of: (i) Signaling.

  • Q : Discrimination In the above diagram,

    In the above diagram, the elimination of discrimination is best represented by:

  • Q : Labor Contracts-Check-off Provisions

    Can someone help me in finding out the right answer from the given options. The check-off provision stated as: (1) Was outlawed by Taft Hartley Act. (2) Is illegal in the union shops. (3) Simplifies the union dues collection. (4) Differentiates union shops from the ag

  • Q : Economy-efficiency while transaction

    Transaction costs tend to be decreased, consumer prices tend to be lower and additionally stable and economy-wide efficiency is enhanced if: (1) rigid wage and price controls are imposed. (2) central planning fosters

  • Q : Illustrations of Micro economic

    Give two illustrations of Micro economic variables studies. Answer: a. Individual demand b. Individual savings

  • Q : Testing Functional structure models

    Testing Functional structure models: It is often hard to tell whether the functional model structure chosen (which almost always in published work appears to generate consistent and robust results) is the only one tested or not.

    Q : Income Elasticities of Demand Question:

    Question: (a)  Suppose the income elasticity of demand for pre-recorded music compact disks is +4 and the income elasticity of demand for a cabinet maker's work is +0.4.  Compare the impact on pre-recorde

  • Q : Decision processes in Microeconomics

    Decision processes within households, and government and firms and the consequences of such decisions are initially the focus of: (1) positive economics. (2) public choice economics. (3) microeconomics. (4) normative economics. (5) microeconomics.

  • Q : Downward slope of consumer demand curves

    Can someone please help me in finding out the accurate answer from the following question. The downward slope of the consumer demand curves for normal goods is partly described by: (i) Income effects. (ii) Diminishing marginal utility. (iii) Substitution effects. (iv)