126. The following are allowable business transactions of a limited partnerwith the partnership, except:O a. To lend money to the partnership.b. Receive from a general partner or the partnership any payment, conveyance, orrelease from liability if at the time the assets of the partnership are not sufficient todischarge partnership liabilities to persons not claiming as general or limitedpartners.O C. To transact business with the partnership.d. To receive on account of resulting claims against the partnership, with generalcreditors, a pro rata share of the assets.

Partnership is the business strategy adopted by the organizations in order to extend its business…

Answered: 126. The following are allowable…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

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Ee.56. Subject :- Account May you tell me what I'm doing wrong?

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126. The following are allowable business transactions of a limited partner with the partnership, except: