In Small Partnerships of 10 or Fewer Partners,the Partnership Agreement

question 51

Multiple Choice

In small partnerships of 10 or fewer partners,the partnership agreement often requires unanimous partners' agreement for many actions,such as hiring employees and making large contracts.In small partnerships,this is an important requirement because:

• A)these actions have a greater impact on each partner.
• B)partners of a small partnership typically have more monetary assets at stake.
• C)it keeps control within the partnership.
• D)it ensures that a single partner will not try to exercise complete control.

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Definitions:

Flat

Lacking in vivacity or interest; without marked variation in emotional or dynamic level.

Blunted

Lacking in force, intensity, or sharpness; often used to describe diminished emotional responses or reactions.

Exaggerated

Describes something that is represented as greater than is true or reasonable; overstated or embellished.

Establish Trust

Establishing trust involves creating a reliable, dependable, and safe environment or relationship where confidence in one another can be built.