Under the UPA, Absent an Agreement Otherwise, Upon Dissolution, a Partner

question 1

Multiple Choice

Under the UPA, absent an agreement otherwise, upon dissolution, a partner is entitled to which of the following after payment of partnership creditors?

• A) Repayment of his loans to the partnership, capital contribution, and a share of the profits.
• B) A share of profits in proportion to his capital contribution.
• C) Shares of profits dependent upon the capital and time he contributed to the partnership.
• D) The UPA requires that the partners have an agreement or else they must seek a court order distributing the remaining assets.

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Definitions:

Subordinates

Individuals who are lower in rank or position in an organizational hierarchy.

Leader-Member Exchange Theory

A leadership approach that emphasizes the two-way (dyadic) relationship between leaders and followers, proposing that the quality of this relationship predicts outcomes like satisfaction and productivity.

Dyadic Leader-Member Relations

The interactional pattern and relationship quality between a leader and each individual member within a team or organization.

Real-World Organisations

Entities operating in society that perform functions or provide services, including businesses, government agencies, non-profits, and other structured groups.