V.Those owing to general partners in respect of capital.VI.Those owing to general partners in respect of profits.
40.Which of the following will not cause the automatic dissolution of a limited partnership?a. Death of a general partner.b. Death of a limited partner.c. Insolvency of a general partner,d. Insanity of a general partner.
41.One of the distinctions between a partnership and a corporation is that a partnership:
42.Belinda, Ara, Rica and Klaudia are partners in BARK Enterprises, a pet shop, with Belinda contributing P50,000.00; Ara, P20,000.00; and Rica, P30,000.00. Klaudia is an industrial partner and manages the partnership. Based on the foregoing information, which of the following statements is false?