Thomas invests $10,000 in the Thomas and Trudy partnership named Tremendous Enterprise. Thomas needs $2,000 for medical expenses and insists that he is entitled to withdraw that amount immediately from what he has invested. Trudy asserts that the $10,000 investment is partnership property. Under the RUPA, who owns the $10,000?

General partners receive a return on their investment, while risking only that original investment.

One of the primary advantages of sole proprietorship is limited liability.

Under RUPA, a _____ takes place whenever a partner leaves the firm but the firm continues in business.

Profit sharing is strong evidence of the existence of a partnership.

The RUPA requires that a partnership agreement be in writing to be enforceable among the partners.

Under the UPA, a partner can sue another partner directly or, under the entity theory, the partnership itself to enforce his or her partnership rights.

Arian is a sole proprietor and owes a number of business creditors. Arian has some assets he uses in his business and other assets he treats as his personal property. The business creditors may sue to:

Which of the following is true of limited partners?

A partnership is the easiest business organization to form.