Which of the Following Is an Implied Authority of a Partner

question 36

Multiple Choice

Which of the following is an implied authority of a partner winding up the business of an accounting partnership?

• A)Entering into new contracts made after the dissolution
• B)Disposing of the partnership's excess supplies
• C)Making a contract to audit the financial records of a new client
• D)Borrowing money in the name of the partnership

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Definitions:

Product Service

A combination of tangible goods and intangible services provided to fulfill the needs or desires of consumers.

Place Utility

The value added to products by having them available at a place where they are needed or wanted by consumers.

Consumers

Individuals or businesses that purchase goods or services.

Quality Grades

Standardized classifications used to rate the quality of products based on specific criteria.