Each Partner Is Obliged to Act in Good Faith for the Common

question 14

Multiple Choice

Each partner is obliged to act in good faith for the common good of the partnership, which includes an obligation to:

• A)Profit personally from their position.
• B)Put themselves in a position of conflict of interest without keeping the other partners informed.
• C)Compete with the partnership.
• D)Fully disclose to the other partners all matters likely to affect the partnership.

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Definitions:

Halo Error

A cognitive bias in performance evaluations where one positive quality of an individual disproportionately influences the overall perception of their performance.

360 Degree Assessment

A performance appraisal method that involves feedback from all directions, including self-evaluation, peers, subordinates, and supervisors.

Performance Appraisal

The process of evaluating an employee's performance at work, typically to guide decisions on promotions, pay raises, and training needs.

Behaviorally Anchored Rating Scale

A method for evaluating employee performance based on specific behavioral examples that represent different levels of achievement.