Which of the Following Statements Is False Regarding the Implied

question 6

Multiple Choice

Which of the following statements is false regarding the implied authority of partners?

• A)A partner does not have implied authority to sell partnership property without the consent of all other partners.
• B)Implied authority permits partners to enter into agreements necessary to carry on partnership business.
• C)A partner has the authority to purchase goods necessary to perpetuate the business.
• D)Partners generally have less authority than typical agents.
• E)The implied authority of partners is usually determined by the nature of the business.

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Definitions:

Hyperconsumption

Describes an excessive and unsustainable level of consumption that surpasses what is necessary for a comfortable lifestyle, often driven by consumerism and materialism.

Alienation

A condition in social relationships reflected by a decrease in the sense of personal identification with the products of one's work or disenchantment with societal norms.

Mode of Production

describes the varied ways that societies gather or produce the means of their subsistence, focusing on the combination of productive forces and relations of production.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.