When Entering into a New Partnership,the Partners Should

question 143

Multiple Choice

When entering into a new partnership,the partners should:

• A)avoid putting their agreement in writing since this would limit the flexibility of the partnership.
• B)put the partnership agreement in writing.
• C)plan to incorporate as soon as possible.
• D)agree to put the first year's profits back into the partnership.

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Definitions:

Predestined

Determined in advance by destiny or divine will, leading to the belief that events are fixed and unchangeable.

Stoics

Followers of Stoicism, an ancient Greek school of philosophy that teaches the development of self-control and fortitude as a means of overcoming destructive emotions.

Death

The cessation of all biological functions that sustain a living organism, marking the end of life.

Divine Plan

A belief in a predetermined course of events controlled or envisioned by a supernatural power.