Which of the following statements is correct with respect to unlimited liability?
A) Only the partner's share of the partnership assets can be used to satisfy the debt incurred by another partner.
B) Each partner can be held responsible for the debts of the partnership no matter how great they are.
C) Unlimited liability means the partner can lose what he has invested but no more.
D) The partner cannot only lose what she has invested but can also be required to pay an additional amount equal to what she has invested.
E) If there are two partners,each partner can be held responsible for an amount equal to but no more than one half of the debts of the partnership.
Correct Answer:
Verified
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