Jamie and Maria invested all their savings in a small pizzeria they opened outside the University of Western Kentucky. They operated the business as a general partnership. After 11 months the business went broke and Jamie and Maria were left with outstanding bills of $37,500, which is more than their investment in the company. Jamie and Maria can:
Discuss
A. Lose their personal assets as the result of their company's financial problems
B. Lose only the funds they originally invested in their company
C. Lose only the total value of the assets actually used to operate the business
D. Avoid any liability for these debts since a partnership is considered to be a business entity that is separate and distinct from the partners who own it
Answers: 2
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Jamie and Maria invested all their savings in a small pizzeria they opened outside the University of...
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