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Question
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. Who owns the $10,000?
A. Tremendous Enterprise.
B. Thomas only.
C. Thomas individually and Trudy individually.
D. The $10,000 is owned by no one, but is merely a future interest of Thomas.
Answer
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