A person who owes money to a business is known as a:Question 2Answera.Partnerb.Debtorc.Creditord.Investor

A partner who has undertaken to contribute a sum of money and fails to do so becomes a debtor for the interest and damages from the time he or she should have complied with his or her obligation.Group of answer choicesTrueFalse

A business entity where, in the event of the business being unable to pay its creditors as debts fall due, the owner(s) cannot be forced to sell personal assets or wealth to repay these debts is _____________.

A partner who takes interest on the loan isQuestion 18Answera.Active Partnerb.Sleepingc.Nominald.Quasi

The debts of the business are also the debts of the owner(s) is _________ and applies to ________.

Name the form of Business Organisation in which members are jointly and     individually liable to pay firms debts :