All of the Following Statements About Partnerships Are True Except

question 161

Multiple Choice

All of the following statements about partnerships are true except

• A)partners must share profits and losses equally.
• B)a change in ownership will dissolve the partnership.
• C)any partner can enter into a binding agreement with a third party.
• D)all partners have unlimited liability.

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Definitions:

Proactive Strategy

A corporate social responsibility strategy that actively pursues social responsibility by taking discretionary actions to make things better in the future.

Preventive Action

Measures taken in advance to reduce or eliminate the risk of potential problems or dangers in a process, system, or environment.

Social Responsibility

The duty of businesses and individuals to act in the best interests of their environment and society as a whole.

Adverse Social Impacts

Negative effects that activities or decisions have on the societal well-being or social fabric.