In the Absence of Any Express or Implied Agreement to the Contrary

question 40

Multiple Choice

In the absence of any express or implied agreement to the contrary,

• A) a new partner may be admitted to a partnership by the decision of a majority of the partners.
• B) no partner is entitled to payment for acting in the partnership business.
• C) all partners may share equally in partnership capital and profits and must contribute equally towards all losses.
• D) a new partner may be admitted to a partnership by the decision of a majority of the partners and no partner is entitled to payment for acting in the partnership business.
• E) all partners may share equally in partnership capital and profits and must contribute equally towards all losses and no partner is entitled to payment for acting in the partnership business.

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Definitions:

Tolerance

The capacity to endure continued exposure to a substance (such as a drug) without adverse reaction, or a broad-minded acceptance of opinions or practices different from one's own.

Drug Users

Individuals who consume drugs, whether for medical purposes, recreation, or due to dependency issues.

Transformational Leadership

A leadership style that involves inspiring and motivating followers to achieve extraordinary outcomes and fostering an environment for positive change.

Reengineering

Fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance.