A General Partnership Is Also Known as A(n)________ Partnership

question 110

Multiple Choice

A general partnership is also known as a(n) ________ partnership.

• A) conditional
• B) unconditional
• C) express
• D) implied
• E) ordinary

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Definitions:

Shirking

The behavior of avoiding work or responsibilities, often seen in employment contexts where workers may not perform their duties optimally.

Worker's Output

The quantity of goods or services produced by an employee within a certain period of time.

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders, and is authorized to act as a single entity, legally endowed with rights and responsibilities.

Accounting Profit

The total revenue of a firm minus the explicit costs directly tied to those revenues.