Which of the Following Remedies Is Appropriate for a Partner's

question 4

Multiple Choice

Which of the following remedies is appropriate for a partner's breach of the duty to serve?

• A)Assessing the partner the cost of hiring a person to do his work.
• B)Paying the other partners double compensation.
• C)Charging the partner a 10 percent penalty against any profits he may be entitled to.
• D)Ousting the partner from the partnership.

Understand the difference between centralized and decentralized authority and their impact on organizational structure.

Comprehend the consequences of violating organizational principles such as unity of command.

Recognize the factors influencing a manager's reluctance to delegate.

Understand the concept of a learning organization and its impact on employees.

---

Definitions:

Prior-Period Adjustments

Adjustments made to the financial statements to correct errors or omissions in previously issued financial statements from prior periods.

Trade Receivables

The amounts owed to the business by customers for products or services that have been delivered or used but not yet paid for.

Sales Discount

A reduction in the price of goods or services offered to customers, typically to prompt early payment or bulk purchases.

Aging of Accounts

A method used to estimate uncollectable debts by categorizing accounts receivables based on how long they have been outstanding.