Mike Hill and Larry Wright Decide to Start a Partnership

question 215

Multiple Choice

Mike Hill and Larry Wright decide to start a partnership and offer accounting services.Which of the following is the best way to start this partnership?

• A) They should orally discuss how they want the partnership to work and who is responsible for certain areas.
• B) They should determine the exact way the business should be run and have a witness listen to their oral discussion.
• C) They should let a third party,such as a consultant or an attorney,draft whatever agreement the consultant or attorney thinks is appropriate.
• D) They should carefully draft an articles of partnership together,outlining each partner's responsibilities and other important information.
• E) With the help of an attorney,they should draft a partnership agreement that states each partner's duties and investments.

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Definitions:

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The phenomenon where the demands of one's role in work or home life interfere with the ability to fulfill roles in another domain.

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Concerns or dilemmas involving judgments about right and wrong behavior, ethics, and values.

Gilligan

A last name associated with various individuals, including Carol Gilligan, an American feminist, ethicist, and psychologist known for her work in moral development.

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