Of the Following, Which Is an Implied Relationship Between Partners

question 52

Multiple Choice

Of the following, which is an implied relationship between partners?

• A) Interest on loans to partnership by a partner.
• B) Equal share in profits and losses.
• C) Firm pays each partner for his business expenses.
• D) No partner is entitled to remuneration for acting in the partnership business.
• E) all of the above

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Definitions:

Autonomy

The capacity to make an informed, uncoerced decision or the right of individuals to direct their own lives.

Competence

The ability and skill to efficiently perform a task or job, often measured against a standard or benchmark.

Intrinsic Motivation

The drive to engage in an activity for its own sake, without the influence of external rewards or pressures.

Extrinsic Motivation

Motivation driven by external rewards such as money, fame, grades, or praise.