The Principle Whereby Each Partner Is Responsible for the Business

question 55

Multiple Choice

The principle whereby each partner is responsible for the business actions of all other partners when the actions are carried out in the normal course of business is known as:

• A) unlimited liability.
• B) mutual agency.
• C) perpetual life.
• D) the rule in Garner versus Murray.

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Definitions:

Developmental Assignments

Job tasks or projects designed to enhance an employee's knowledge, skills, and competencies, facilitating professional growth.

Mentoring Relationship

A dynamic, reciprocal relationship in a work environment between an advanced career incumbent (mentor) and a beginner (protégé), aimed at promoting the career development of both.

Visible Minority

A term used to describe individuals of a race or ethnicity that differs from the majority population in a given area, often used in contexts discussing diversity or discrimination.

Hazing

Hazing involves imposing strenuous, often humiliating, tasks as part of a group's initiation process, typically forbidden due to its potentially harmful effects.