New General Partners Can Be Admitted Only with the ________

question 65

Multiple Choice

New general partners can be admitted only with the ________.

• A) approval of at least two-thirds of the partners
• B) specific consent of each partner
• C) merger with another limited partnership
• D) death of or transfer by a general partner

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Definitions:

Final Good

A product that is consumed directly by the end-user or customer and will not be used to produce any further goods or services.

Laundry Services

Services provided by businesses to clean clothing and textiles for individuals or commercial customers.

Gross Domestic Product

A measure of the economic performance of a country, reflecting the market value of all final goods and services produced within a country's borders in a given period.

Corporate Bond

A debt security issued by a corporation to raise capital from investors, promising to pay back the principal amount with interest.