A and B are general partners in AB Partnership with outstanding liabilities of P 6,000 before the admission of C. C is admitted to the existing partnership of A and B. After several years of operation, the total liabilities of the partnership increased to P 12,000 while the total assets of the partnership are fully exhausted. How much may the unpaid creditor of the partnership validly collect from C? * P 2,000 P 3,000 P 4,000 P 6,000
A and B are general partners in AB Partnership with outstanding liabilities of P 6,000 before the admission of C. C is admitted to the existing partnership of A and B. After several years of operation, the total liabilities of the partnership increased to P 12,000 while the total assets of the partnership are fully exhausted. How much may the unpaid creditor of the partnership validly collect from C? * P 2,000 P 3,000 P 4,000 P 6,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A and B are general partners in AB Partnership with outstanding liabilities of P 6,000 before the admission of C. C is admitted to the existing partnership of A and B. After several years of operation, the total liabilities of the partnership increased to P 12,000 while the total assets of the partnership are fully exhausted. How much may the unpaid creditor of the partnership validly collect from C? *
P 2,000
P 3,000
P 4,000
P 6,000
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