Which of the Following Is True Regarding the Liability of Incoming

Multiple Choice

Which of the following is true regarding the liability of incoming partners?

A) The new partner is personally liable for all outstanding obligations as of the time that the new partner entered the partnership.
B) The new partner is personally liable for only 50% of outstanding obligations as of the time that the new partner entered the partnership.
C) The new partner is personally liable for only 10% outstanding obligations as of the time that the new partner entered the partnership.
D) The new partner is personally liable proportionately based on the number of partners for outstanding obligations as of the time that the new partner entered the partnership.
E) The new partner is not personally liable for outstanding obligations of the partnership as of the date the new partner entered the partnership.