Amina,Bill,and Connor Carried on Business in Partnership as Hardware Merchants

question 85

True/False

Amina,Bill,and Connor carried on business in partnership as hardware merchants.Bill,who did most of the purchasing of stock for the partnership,would occasionally purchase (using his own money)an extra quantity of some items that could readily be sold to consumers.He would use the truck owned by the business on the weekends to travel to his cottage where he would sell the items to cottage owners in the area of his own cottage.Amina and Connor were unaware of Bill's actions,as B had not revealed his weekend business activity to either Amina or Connor.
-Bill must pay over to the partnership the profit earned by his weekend selling,because he used partnership assets to earn the profits.

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Definitions:

High-Performance Work System

An organizational approach that integrates people, technology, and processes to maximize productivity and competitiveness.

Productivity

A measure of efficiency, often quantified as the ratio of outputs to inputs in the production process.

Efficiency

The ratio of the useful output produced by a system to the input provided, measuring the system's ability to optimize resources.

Employees' Rewards

The various forms of compensation, benefits, and recognition provided to employees for their contributions to the organization.