Brian, Kirk, and Jim Established a Partnership with Equal Capital

question 15

Multiple Choice

Brian, Kirk, and Jim established a partnership with equal capital contributions. However, Kirk provided an additional contribution in the form of a loan to the company. Which of the following is true?

• A)Brian can withdraw capital advances from the partnership.
• B)Any of the partners can withdraw their capital contribution or advances at any time.
• C)Kirk can withdraw his capital advance after its due date.
• D)Jim can withdraw capital advances from the partnership. ​

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Definitions:

Formal Mentoring Programs

Organization-sponsored programs in which seasoned employees are recruited as mentors and matched with protégés.

Informal Mentoring

A non-structured, personal guidance relationship that develops naturally between a more experienced individual and a less experienced individual, sharing insights and advice for personal or professional development.

Collective Socialization

The process by which a group of individuals acquires the values, norms, and behaviors that are necessary for participation in a particular society or organization.

Salespeople

Individuals who sell goods or services to customers, typically working on behalf of a company.