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:

Transactional Analysis

A psychological theory and method of therapy wherein social transactions are analyzed to determine the ego state of the communicator.

Interpersonal Communication

The exchange of information, feelings, and meanings between two or more people through verbal and/or non-verbal methods.

Productivity

The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Human Relations

The study and practice of creating harmonious and effective interactions in professional and personal settings.