Liability comparisons Nerissa Smith has invested $47,000 in Northeast Productions Company. The firm has recently declare

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Liability comparisons Nerissa Smith has invested $47,000 in Northeast Productions Company. The firm has recently declare

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Liability comparisons Nerissa Smith has invested $47,000 in Northeast Productions Company. The firm has recently declared bankruptcy and has $108,000 in
unpaid debts. Explain the nature of Nerissa's personal liabilit if any, in each of the following situations.
a. Northeast Productions Company is a sole proprietorship owned by Ms. Smith
Northeast Productions Company is a 50-50 general partnership of Nerissa Smith and Roger Brown.
C.
Northeast Productions Company is a limited partnership where Nerissa Smith is a limited partner.
d. Northeast Productions Company is a corporation.
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