Kendra and Amelia Operate an Art Gallery,owned as a Partnership

question 58

Multiple Choice

Kendra and Amelia operate an art gallery,owned as a partnership.Kendra disappeared.A few days later,Amelia learned that Kendra embezzled $75,000 of government grant money through the company.Is Amelia responsible for the $75,000?

• A)Yes,because Amelia and Kendra are partners.
• B)Yes,but only if Amelia was aware of the embezzlement.
• C)No,because the embezzlement was done by Kendra.
• D)Yes,but only to the extent of Amelia's investment into the partnership.
• E)No,because partners are not responsible for the wrongful acts of other partners.

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Definitions:

Labor Problem

Issues and disputes that arise in the workplace between employers and employees, often involving wages, working conditions, and workers' rights.

Management Attitude

Refers to the perspectives, beliefs, or stances that management personnel hold towards workers, workplace policies, business objectives, and other management-related aspects.

Market Imperfections

Situations in which market conditions diverge from the ideal of perfect competition, leading to inefficiencies such as monopolies or lack of information.

Market Competition

The competitive rivalry between companies in a marketplace, where businesses vie for a larger share of consumers through pricing, product differentiation, and customer service.