If a Partner Continues a Partnership Beyond the Originally Agreed-On

question 23

Multiple Choice

If a partner continues a partnership beyond the originally agreed-on term, the partner has _____.

• A) an unconditional right
• B) no right to continue
• C) a right to continue until the firm is liquidated or a new partner joins the firm
• D) a right to continue only if it is agreed upon by the majority of partners

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Definitions:

Credit Raters

Agencies or entities that assess the creditworthiness of issuers of debt securities, determining their ability to make timely interest payments and repay the principal.

Sarbanes-Oxley Act

A U.S. federal law that aimed to protect investors by improving the accuracy and reliability of corporate disclosures.

Independent Directors

Members of a company's board of directors who do not have a material or pecuniary relationship with the company or related persons, ensuring unbiased governance and decision-making.

CFO

Chief Financial Officer, a senior executive responsible for managing the financial actions of a company.