In Which One of the Following Situations Has the Duty

question 150

Multiple Choice

In which one of the following situations has the duty between partners not been breached?

• A) X, Y, and Z have a partnership in a restaurant business in Winnipeg. Unknown to his partners, Z opens a shoe store in Regina as well.
• B) X, Y, and Z have a partnership in a restaurant business in Winnipeg. Unknown to his partners, Z opens up a restaurant in the same city as a sole proprietorship.
• C) X, Y, and Z have a partnership in a restaurant business in Winnipeg. Unknown to his partners, Z is the major shareholder in a corporation that sets up a restaurant in the same city.
• D) X, Y, and Z have a partnership in a restaurant business in Winnipeg. Unknown to his partners, Z owns 50% of the shares in the company that supplies the restaurant with its food supplies.
• E) X, Y, and Z have a partnership in a restaurant business in Winnipeg. Unknown to his partners, Z runs a catering business during the evening using the restaurant's facilities.

Recognize the implications of cumulative and noncumulative dividends for stockholders and the corporation.

Understand the legislative and procedural aspects of issuing stock, including the rights to dividends and the process for calculating dividends.

Define and identify organization costs and their treatment in financial statements.

Acknowledge the rights of stockholders and the legal responsibilities of corporations regarding dividends.

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Definitions:

George Herbert-Mead

A sociologist known for his work on the development of the self and the concept of social behaviorism, emphasizing the importance of communication and symbolic interactions in society.

The I

In sociology, refers to the subjective and spontaneous part of the self that represents personal responses and actions in social interaction.

The Me

A concept in sociology introduced by George Herbert Mead, referring to the social self or how individuals perceive themselves based on societal expectations.

Relations of Production

The relationships that exist in economic systems between those who own the means of production and those who sell their labor.