Multiple Choice
Devon and Keith opened a restaurant as a partnership. Two years later, Keith left the restaurant, and Devon discovered that Keith had charged numerous expenses to their account. These expenses resulted in thousands of dollars worth of debt for the restaurant. What option does Devon have in this situation?
A) He doesn't have to worry because, according to law, everyone is responsible for his/her own debts.
B) Business creditors will pursue Keith alone since his signature authorized payments.
C) Business creditors will expect Devon to pay at least half the debt since he owns 50 percent of the business.
D) Business creditors will expect full payment from Devon.
Correct Answer:

Verified
Correct Answer:
Verified
Q37: Through the Canada Small Business Financing Program
Q39: Explain the benefits and drawbacks of buying
Q41: Many businesses fail during the early years
Q43: _ must verify in writing the accuracy
Q44: Mention and explain some innovations developed by
Q45: One of the most "business-friendly" provinces in
Q46: Chen is a franchisee of a local
Q47: Corporations have all of the following advantages
Q71: Securing adequate financing is a major problem
Q148: Discuss two alternatives to private ownership and