Final answer:
The truck titled in the name of Easy Partnership is owned by the partnership itself, not individually by Susan or jointly by Susan and Stanley.
Step-by-step explanation:
If Susan purchases a truck with her personal funds but titles the truck in the name of Easy Partnership, the truck is owned by the partnership. This is because assets titled in the name of the business are considered property of the business entity. In a general partnership, all partners are considered to share in both the profits and responsibilities of the business. Therefore, even though Susan used her personal funds, by titling the truck in the business's name, she has made it an asset of the partnership. Consequently, the correct answer to who owns the truck is option 3) Easy Partnership only.
In a general partnership, two or more individuals own and operate a business together. In this case, Susan and Stanley are in a partnership called Easy Partnership. When Susan purchases a truck with her personal funds and the title is in the name of Easy Partnership, the ownership of the truck is shared between Susan and Easy Partnership.