Which of the Following Is Incorrect with Respect to the Responsibilities

question 84

Multiple Choice

Which of the following is incorrect with respect to the responsibilities of partners to each other?

• A) Each partner owes the other partners a fiduciary duty.
• B) Partners are free to compete with the partnership providing they do it on their own time.
• C) Any information that one partner learns because of his position in the partnership must be used for the benefit of the partnership, not for personal use.
• D) Unless the partners have agreed otherwise, profits and losses are shared equally.
• E) Unless the partners have agreed otherwise, partners' expenses are to be reimbursed.

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