A 1. limited partner II. general partner III. sole proprietor can lose, in the extreme case, her entire personal net worth. OA. I only B. II only OC. Ill only OD. II and III only OE. I and III only

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 1MC: A partnership ________. A. has one owner B. can issue stock C. pays taxes on partnership income D....
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A
1. limited partner
II. general partner
III. sole proprietor
OA. I only
B. II only
O C. III only
can lose, in the extreme case, her entire personal net worth.
D. II and III only
E. I and III only
Transcribed Image Text:A 1. limited partner II. general partner III. sole proprietor OA. I only B. II only O C. III only can lose, in the extreme case, her entire personal net worth. D. II and III only E. I and III only
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