If the Partners in a Limited Duration Partnership Continue to Conduct

question 55

Multiple Choice

If the partners in a limited duration partnership continue to conduct business together after the expiry of the duration, the partnership will:

• A)Automatically dissolve.
• B)Be a 'partnership at will'.
• C)Have perpetual succession.
• D)Be wound up by a court.

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Definitions:

Industrial Relations

The study and practice of managing the relationships between employers and employees, including collective bargaining, workers' rights, and labor laws.

Efficiency

The ability to accomplish a task with minimal waste of resources, including time, energy, and materials, optimizing performance and output.

Equity

The idea of equality and rightfulness in allocating wealth, chances, and advantages among members of a community.

Voice

The ability or right to express opinions, concerns, or proposals, especially in the context of organizational or democratic processes.