Which of the Following Statements Are TRUE

question 68

Multiple Choice

Which of the following statements are TRUE?

• A) A prohibition in a partnership agreement on partners incurring a specific obligation will prevent partnership liability arising if one of the partners tries to commit the partnership to such an obligation.
• B) An indemnification agreement between partners will always be complete protection against unauthorized liabilities.
• C) Partners do not have to worry about individual partners incurring unauthorized liabilities because each partner has a fiduciary duty to act in the best interests of the partnership.
• D) Partners often have a high degree of trust and confidence in each other.
• E) none of the above

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Definitions:

Video Game Industry

A sector focused on the development, marketing, and sales of video games, including hardware and software components.

Entrepreneurial Firms

Companies that pursue opportunities, innovation, and value creation regardless of the resources currently in their possession.

Ambidextrous

The ability of an organization to simultaneously explore new opportunities while exploiting existing ones to achieve superior performance.

Exploration

The act of searching or traveling around a new area in order to discover what it contains.