In a General Partnership, ________

question 52

Multiple Choice

In a general partnership, ________.

• A)each partner is held responsible for an agreement/decision made by any one of the partners
• B)partners can be held responsible only for decisions they make personally
• C)no partner can be held legally responsible for decisions since the partnership itself is a legal entity
• D)no decision is binding unless all partners agree to it in writing

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Definitions:

Basic Principles

Fundamental concepts or general laws that guide a field of knowledge, operations, or practices.