A Change in the Nature of the Partnership

question 35

Multiple Choice

A change in the nature of the partnership

• A) requires prior notification to the Registry Office.
• B) is equivalent to the formation of a new partnership.
• C) requires agreement, oral or written, by all existing partners.
• D) is considered a conventional matter as related to the partnership business.
• E) requires consent, in writing, at a formal business meeting.

---

Definitions:

Income

The amount of money received on a regular basis from work, property, business, investment, or welfare payments.

Price

The amount of money required to purchase a good or service, determined by various factors including supply, demand, cost of production, and market conditions.

Utility Function

A representation in economic theory of how a consumer ranks different bundles of goods based on the level of satisfaction (utility) they provide.

Income

Money that an individual or business receives in exchange for providing a good or service or through investing capital.