Engineering Economics
In case of bankruptcy of a partnership,

The partners personal assets are attached to the debt of the partnership
The partners are not liable for the liabilities of the partnership
The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities
The partners nay sell stock to generate additional capital

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Engineering Economics
Which is true about partnership?

Its capitalization must be equal for each partner.
It has a perpetual life.
It can be handed down from one generation of partners to another.
It will be dissolved if one of the partners ceases to be connected with the partnership.

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