Can the Two Potential New Partners Be Added to the Partnership

question 20

Multiple Choice

Can the two potential new partners be added to the partnership without Igor's vote in favor of doing so?

• A)Yes,because there is a majority vote in favor of the admission of new partners.
• B)No,because there is no 4/5 vote in favor of the admission of new partners.
• C)Yes,but only if all material facts about the new partners have been disclosed to Igor.
• D)No,because there is no unanimous vote in favor of the admission of new partners.
• E)Yes,because the two potential partners will bring significant capital into the partnership.

---

Definitions:

Collection Period

The average number of days it takes for a company to collect payments owed by its customers.

Bad Debts

Money owed to a company that is unlikely to be paid by the debtor, often resulting in a write-off for the company.

Just-In-Time

An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.

Inventory Systems

are methodologies and procedures used by businesses to track, manage, and plan for current and future inventory and stock levels.