Mike Nettles Approached Nathan Lang About Becoming a Partner in a Firm

question 86

Multiple Choice

Mike Nettles approached Nathan Lang about becoming a partner in a firm that destroys environmental waste.While Mike would like to become a partner in the firm, he is concerned about his liability because he has recently inherited a lot of money.In this situation, Mike should become a

• A) general partner with a majority ownership interest in the business.
• B) general partner with a minority ownership interest in the business.
• C) limited partner.
• D) joint venturist.
• E) sole trader.

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Definitions:

Desirability

The quality of being wanted or wished for due to attractiveness, usefulness, or value.

Negotiators

Parties that engage in the process of discussing terms in order to resolve conflicts or finalize deals.

Ethical Judgments

are assessments made about actions or decisions based on moral principles, determining what is right or wrong.

Consequences

The results or outcomes that follow from actions, decisions, or policies, either intended or unintended.