Use the Fact Situation in Q6 to Answer the Related

question 24

Multiple Choice

Use the fact situation in Q6 to answer the related question that follows. The liability that arises in this case is based on the principle that

• A)each partner is an agent of the partnership.
• B)a partnership is bound by the acts or omissions of its partners.
• C)it is the duty of the partnership to notify customers of the resignation of a partner.
• D)partners are jointly liable for the contracts of the partnership.
• E)all of the above

---

Definitions:

Structured Process

An organized and systematic approach to work or problem-solving, often involving sequential steps and established procedures.

Employee Involvement

The degree to which employees are encouraged to contribute ideas, input, and effort in decision-making processes and operational aspects of their work.

Decision Process

The series of steps taken by individuals or organizations to identify and evaluate options and make a choice among them.

Escalation of Commitment

A pattern of behavior in which individuals or groups continue to invest in a decision despite evidence of its ineffectiveness, often due to cognitive biases.