Which of the Following Is True About a Partnership

question 70

Multiple Choice

Which of the following is true about a partnership?

• A)The old partnership ends only upon the withdrawal of a partner.
• B)The old partnership ends upon the acceptance of a new partner.
• C)If a new partner is admitted to the partnership,the old partnership must liquidate.
• D)Partnerships have an unlimited life.
• E)Only one owner is allowed in a Partnership.

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Definitions:

Law Of Unintended Consequences

The Law of Unintended Consequences highlights the unpredictable and unintended effects that can result from an action or decision.

Relevant To Managers

Relevant to managers refers to information, trends, skills, or knowledge that is directly applicable or crucial for managing organizations, making decisions, and leading teams effectively.

Tacit Knowledge

Knowledge gained from personal experience and contextual insights, which is difficult to formally document and transfer.

Explicit Knowledge

Information or knowledge that is formally articulated, documented, and easily communicated or transferred to others.