O-LevelCommerceBusiness enterprise7100/11 · Oct/Nov 2015 · Q361 Mark

Simla Traders is a partnership with four general partners who have each invested $100000. The partnership is insolvent and there are debts of $800000 owing to creditors. What amount must be paid to the creditors by each of the partners?

A$25000

B$100000

C$200 000

D$800000

✓ Correct answer

C: $200 000

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Topic: Business enterprise, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2015 Paper 1 Variant 1, question 36.

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