what type of liability occurs when a third party has the option of suing all the partners together or one or more of the partners separately?

Answers

Answer 1

Answer:

The type of liability that occurs when a third party has the option of suing all the partners together or one or more of the partners separately is called joint and several liabilities.

In this type of liability, each partner is individually responsible for the entire amount of the obligation, which means that if one partner cannot pay their share, the other partners may be required to cover their portion.

This can occur in partnerships, as well as other forms of joint ventures. Joint and several liability is often used in legal cases involving personal injury, debt, and other financial obligations.

It is important for partners to understand the risks and potential liabilities associated with joint and several liability when entering into a partnership agreement.

To learn more about “liability” refer to the brainly.com/question/14921529

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Do you have to provide a credit score to apply for a contractor's license? A) Yes, a minimum credit score is required B) No, credit score is not a consideration C) Only if you have a previous felony D) Only if you are applying for a residential license

Answers

Answer: Yes, you do have to provide a credit score to apply for a contractor's license! The answer is A.

Explanation:

Do you have to provide a credit score to apply for a contractor's license?

Yes, you do have to provide a credit score to apply for a contractor's license! A credit score minumum is required, so the answer is A!

Money that your company has in the bank in case of unexpected financial needs or in case sales slow down is called ____________.a. An asset fund
b. A cash reserve
c. Equity
d. Insurance

Answers

The answer is B - cash reserve

Which principles of effective communication would be especially important when you are communicating with someone whose primary language is different than your own?

Answers

The effective communication principle in communicating with someone whose primary language is different from the other is letting them "SEE". it's in the environmental factor that people tend to remember and communicate effectively through what they see for about 30% effective.

Answer:

Explanation:

Which of these steps uses a third party as part of the conflict-resolution effort?compromising

defining the problem

mediation

arbitration

Answers

Answer:

mediation and arbitration

Explanation:

got a 100 on my quiz

Answer:

Mediation

Explanation:

Because there is misunderstanding,mediation is done because it is the act of resolving problem( also known as arbitration)

Why is it important to read a monthly statement closely?

Answers

Because you can 1) know the percentage rate you are being charged. 2) know if there are errors in charges. 2) to know how much you owe. 3) to know what your total balance is. 4) to see any important notices or changes to your account.

The following is the only information pertaining to Kane Co.âs defined benefit pension plan:Pension asset, January 1, Year 1 $ 2,000Service cost 19,000Interest cost 38,000Actual and expected return on plan assets 22,000Amortization of prior service cost arising in a prior period 52,000Employer contributions 40,000In its December 31, Year 1, balance sheet, what amount should Kane report as the unfunded or overfunded projected benefit obligation (PBO)?(A) $ 7,000 overfunded.(B) $15,000 underfunded.(C) $45,000 underfunded.(D) $52,000 underfunded.

Answers

Answer:

option (a) is correct answer '$ 7,000 overfunded'

Explanation:

Data:

Pension asset, January 1, Year 1 = $ 2,000

Service cost = $ 19,000

Interest cost = $ 38,000

Actual and expected return on plan assets = $ 22,000

Amortization of prior service cost arising in a prior period = $ 52,000

Employer contributions = $ 40,000

Total expenses = Service cost + Interest cost = $ 19,000 + $ 38,000

= $ 57000

Now,

projected benefit obligation (PBO) = (Pension asset + Actual and expected return ) - Total expenses

projected benefit obligation (PBO)

= $ 2,000 + $ 22,000 + $ 40,000 - $ 57000

overfunded projected benefit obligation (PBO) = $ 7,000

hence,

option (a) is correct answer '$ 7,000 overfunded'

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