MrSmith and Mr

question 7

Multiple Choice

Mr.Smith and Mr.Blue enter into a partnership at will in which each owns half of the business.Mr.Blue decides to leave the partnership.What should Mr.Blue be paid for leaving the business?

• A)Mr.Blue should be paid half of the value of the business.
• B)Mr.Blue should receive 15% of the value of the business for leaving.
• C)Mr.Blue receives 1/3 of the value of the business for leaving.
• D)Mr.Blue receives nothing for his dissociation.

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Definitions:

Qualification

The attributes, knowledge, or skills required to perform a particular job or activity, or the act of meeting such criteria.

States

Politically organized bodies of people under a single government, often referring to the constituent entities that make up a federal union, such as in the United States.

Cooperatives

An organization owned and operated by its members with the objective of benefiting them, often in purchasing or selling goods, obtaining services, or producing goods.

Unincorporated

Describes a business or area that has not been formed into a legal corporation or does not fall under a municipality's jurisdiction, respectively.