,what amount did she likely indicate he would be able to legally recover from Glen? A) $5000 B) $10 000 C) $15 000
,what amount did she likely indicate he would be able to legally recover from Glen? A) $5000 B) $10 000 C) $15 000
Chapter6: Business Expenses
Section: Chapter Questions
Problem 86DC
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Question
Glen,Dale,and Al are partners who own Fizz.Glen made a capital contribution of $5000,Dale's was $15 000,and Al's was $10 000.Glen is a general partner and he oversees the management of the Fizz business.The partnership borrowed $30 000 from the bank.The partners have no agreement relating to the sharing of profits and losses.Fizz became insolvent and unable to repay the loan.The bank sued Dale personally and recovered the full $30 000 from him.Dale then sued Glen.When Dale's lawyer provided him with advice,what amount did she likely indicate he would be able to legally recover from Glen?
A) $5000
B) $10 000
C) $15 000
D) $20 000
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT