Ted's Partnership Agreement with Two Other Men Was a Bit

question 200

Multiple Choice

Ted's partnership agreement with two other men was a bit unsound.One of the problems the men were encountering was uneven productivity among the partners.The agreement required each partner to contribute to every aspect of the business to receive an equal portion of the profits.This agreement did not reflect the idea that

• A) all partners need not be equal; that is, there are different types of partners.Some may be fully active in running the business, whereas others may have a more limited role.
• B) general partners are required to be active in day-to-day business operations.
• C) customers and creditors of a limited partnership need not be protected.
• D) the Uniform Partnership Act requires every general partnership to have at least one limited partner.
• E) each partner may enter into contracts on behalf of all the others.

---

Definitions:

Physiological Needs

The basic physical requirements for human survival, such as air, water, food, shelter, and sleep, which must be met to pursue higher-level needs.

Motivators

Factors that significantly contribute to enhancing employee satisfaction and motivation, leading to improved performance.

Controlled Motivation

Controlled motivation describes a type of motivation that is driven by external pressures or obligations rather than internal desires or interests.

Rewards

Benefits or compensation given as recognition for one's effort, achievement, or behavior.