New General Partners Can Be Admitted Only with the ________

question 65

Multiple Choice

New general partners can be admitted only with the ________.

• A) approval of at least two-thirds of the partners
• B) specific consent of each partner
• C) merger with another limited partnership
• D) death of or transfer by a general partner

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Definitions:

Binding Price Floor

A government-imposed price control set above the equilibrium price, causing a surplus by preventing the price from falling to its natural level.

Hybrid Cars

Vehicles powered by a combination of an internal combustion engine and one or more electric motors, using less fuel than conventional vehicles.

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved.

Minimum Wage

A legally established lower limit on the wage that employers can pay their workers.