If the Written Partnership Agreement Makes No Provision for Sharing

question 8

True/False

If the written partnership agreement makes no provision for sharing profits and losses in a limited partnership, they are shared equally.

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Definitions:

Theory of Planned Behavior

A theory in psychology that forecasts a person's likelihood of performing a specific action at a given time and location, taking into account their attitudes, societal expectations, and their sense of control over the behavior.

Psychological Reactance

A motivational reaction to offers, persons, rules, or regulations that threaten or eliminate specific behavioral freedoms.

Resistance Effect

A phenomenon where individuals or groups oppose change or policies, often due to perceived threat to autonomy or norms.

Norm Discounting

The process by which individuals diminish the importance or relevance of norms in specific situations, often to justify their behavior.