Which of the Following Statements Is False Regarding the Implied

question 15

Multiple Choice

Which of the following statements is false regarding the implied authority of partners?

• A) Partners generally have less authority than typical agents.
• B) The implied authority of partners is usually determined by the nature of the business.
• C) Implied authority permits partners to enter into agreements necessary to carry on partnership business.
• D) A partner has the authority to purchase goods necessary to perpetuate the business.
• E) A partner does not have implied authority to sell partnership property without the consent of all other partners.

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Definitions:

Classification Scheme

A system for organizing data or concepts into categories based on shared characteristics.

Mutually Exclusive

This term refers to situations where two conditions cannot both be true at the same time. For example, a light switch cannot be both on and off simultaneously.

Consistent Principle

A rule or standard that is applied uniformly and reliably over time or across situations, without contradictions.

Jointly Exhaustive

A set of options or propositions is considered jointly exhaustive when it covers all possible scenarios or outcomes, leaving no possibility unaddressed.