An Assignee of a Partner's Interest Does Not Become a Partner

question 35

Multiple Choice

An assignee of a partner's interest does not become a partner without the consent of the other partners and is only entitled to: _______.

• A) participate in the management of the partnership.
• B) receive the assignor's share of the profits during the term of the partnership and the assignor's share of capital on dissolution.
• C) inspect the books of the partnership.
• D) vote on matters concerning the business of the partnership.

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Definitions:

Portion

A part or section of a whole, often expressed as a fraction or percentage.

Complete

To finish or make whole; in mathematics, often refers to making a square in quadratic equations or filling in missing parts of an expression or equation.

Acid Solution

A aqueous solution containing more hydrogen ions (H+) than hydroxide ions (OH-), typically having a pH less than 7.

Quarts

A unit of liquid measure equal to two pints or one fourth of a gallon, used especially in the US.