Which of the Following Statements with Respect to the Partnership

question 48

Multiple Choice

Which of the following statements with respect to the Partnership Act is TRUE?

• A)The Partnership Act overrides any provisions contrary to it set out by the partners in a partnership agreement.
• B)The Canadian Partnership Act was enacted by Parliament and created a uniform and cohesive system of partnership law for all of Canada.
• C)The Partnership Act states clearly that a partnership is only created by specific agreement between the partners to that effect.
• D)The Partnership Act sets out provisions that will govern the relationship between the partners unless those partners have agreed otherwise.
• E)None of the above.

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Definitions:

North American Management

A management approach typically observed in organizations located in North America, characterized by its emphasis on decentralization, flexibility, and individual initiative.

Autonomy and Entrepreneurship

This refers to the capacity of individuals or teams to make independent decisions and pursue innovative ventures within the constraints of an organization.

Closeness of Supervision

The degree to which managerial oversight and control are applied in the oversight of employee tasks and responsibilities.

Productivity Through People

A management philosophy emphasizing the empowerment and involvement of employees in decision-making processes to improve performance and productivity.