Peter,Paul and Mary Have Agreed to Be General Partners to Purchase

Multiple Choice

Peter,Paul and Mary have agreed to be general partners to purchase and rehabilitate a dilapidated home,which they plan to renovate and then resell.Peter and Paul each put in 30%,and Mary contributes 40%,of the financial capital.Which of the following is a true statement?

A) Each partner is personally liable for partnership debts, up to the extent of his or her capital contribution.
B) Peter, Paul and Mary may name the partnership, "PPM, Inc."
C) According to the majority rule, Peter, Paul and Mary are not required to file a written certificate of partnership.
D) Mary, because of her larger capital contribution, has a larger vote in partnership decisions.
E) According to the majority rule, Peter, Paul and Mary will be required to file a written certificate of partnership.