Which of These Is Not a Provision of the Partnership

question 19

Multiple Choice

Which of these is not a provision of the Partnership Act?

• A) No person may be expelled from the partnership without the consent of all existing partners.
• B) A partner is entitled to interest on money advanced to the partnership that is in addition to their original contribution.
• C) Each partner is permitted to withdraw up to 20% of their capital per annum for personal use.
• D) Partners are entitled to share equally in the capital of the partnership.

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Definitions:

Planning Board

A governing body or committee responsible for setting policies, goals, and procedures related to urban planning, development, and infrastructure projects.

Private Ownership

The legal rights of individuals or corporations to own property and assets, excluding governmental entities.

Economic Growth

(1) An outward shift in the production possibilities curve that results from an increase in resource supplies or quality or an improvement in technology; (2) an increase of real output (gross domestic product) or real output per capita.

Self-Interest

is the motivation by individual personal gain as the driving force behind economic decisions and actions.