A Partnership Agreement Sets How the Partners Will Be Compensated

question 122

Multiple Choice

A partnership agreement sets how the partners will be compensated.Normally:

• A)partners are not entitled to salaries or wages,but are compensated by a share of the profits of the business.
• B)the general partner's salary is set at 2 times the salaries of the limited partners.
• C)both general and limited partners are permitted salaries,but all silent or dormant partners are compensated only by sharing in the profits.
• D)while the agreement establishes payout schedules,it does not spell out what constitutes profit.

---

Definitions:

Inattentional Blindness

The failure to notice a fully visible, but unexpected object because attention was engaged on another task, event, or object.

Selective Attention

is the process by which individuals focus on a specific piece of information in their environment while ignoring others.

Physical Appearance

Refers to the outward look or aspects of a person, including body shape, facial features, hair, and other physical traits.

Visual Stimulus

Any object or event in the environment that can be seen and thus influences the behavior or perception of the observer.