Under the UPA, Which of the Following Can Be Done

question 28

Multiple Choice

Under the UPA, which of the following can be done only with the consent of all of the partners?

• A) The firing of a partnership employee.
• B) Confession of judgment.
• C) The sale of a jointly owned office computer.
• D) All of these actions require consent of all partners.

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Definitions:

A.W. Phillips

An economist known for describing the inverse relationship between rates of unemployment and corresponding rates of inflation, which is now known as the Phillips Curve.

United Kingdom

A sovereign country located off the northwestern coast of mainland Europe, comprising England, Scotland, Wales, and Northern Ireland.

Rate Of Change

The speed at which a variable changes over a specific period of time.

Sacrifice Ratio

The measure of the decline in annual output required to reduce inflation by one percentage point.