Multiple Choice
Ralph, a partner, doing partnership along with Gilbert and Vicky, during course of the partnership, pays a sum of $4,000 to one of the suppliers out of his personal account. The partnership firm will have to pay back this amount to Ralph as per the partner's right to _____.
A) profits and losses
B) indemnification
C) compensation
D) management
E) derivative action
Correct Answer:
Verified
Correct Answer:
Verified
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