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21-05-2024
Business

Answered

Judy has been told by her partnership's accountant that her partnership has a recourse liability. A partnership liability is a recourse liability if:
a) The property is the only security for the loan.
b) The collateral for the loan is not sufficient to satisfy the debt.
c) The partner did not participate in the loan process.
d) The loan is a short-term obligation.

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