Question

Jamie and Maria invested all their savings in a small pizzeria they opened outside the University of Western Kentucky. They operated the business as a general partnership. After 11 months, the business went broke and Jamie and Maria were left with outstanding bills of $37,500, which was more than their initial investment in the company. Jamie and Maria can:__________.

Answer 1

End up losing their personal assets as the result of the partnership's financial problems.

Step-by-step explanation:

One of the main disadvantages of general partnerships is that the partners have unlimited liability for the debts and obligations of the partnership. The partnership ans the partners are not considered separate entities, therefore any remaining debt from the partnership passes to the partners.