Which of the Following Is True Regarding the Rights of Partners

question 51

Multiple Choice

Which of the following is true regarding the rights of partners to share in the management of a partnership?

• A) Unless the articles of partnership states otherwise, all partners have a right to participate equally in the management of the partnership.
• B) Unless the articles of partnership states otherwise, partners share in management in proportion to the amount of capital contributed to the partnership.
• C) Unless the articles of partnership states otherwise, partners share in management in proportion to the amount of work done for the partnership.
• D) Unless the articles of partnership states otherwise, partners share in management in proportion to their seniority with the partnership with partners of equal seniority sharing equally in management.
• E) Rights to management are suspended until the partners amend the articles of partnership to address management rights.

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Definitions:

Functions

The roles or activities that are natural to or intended for a person or thing.

Titles

The names given to books, movies, articles, and other works of art or literature to identify and describe them.

Reader's Needs

The requirements or expectations of the audience that must be met by written or printed material to be considered useful or engaging.

Balance

The state of having equal distribution of weight, or the financial situation where debits and credits are equal.