Which of the Following Is a Violation of the Fiduciary

question 104

Multiple Choice

Which of the following is a violation of the fiduciary duty of a partner?

• A) Where one partner uses information that he has gained from the partnership for the advantage of the partnership.
• B) When one partner starts another business without the consent of the other partners which is the same as or in competition with the partnership business
• C) Where a partner uses the partnership property for partnership business.
• D) Where one partner carries on an business unrelated to the partnership with the permission of the partners
• E) Where one partner learns of an investment opportunity in the field of the partnership and tells the partners. The partners decline on the opportunity, so he takes advantage of it himself

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Definitions:

Demand Functions

Mathematical expressions that relate the quantity of a good that consumers are willing and able to purchase at various prices, holding other factors constant.

Income

Earnings from work or investment, which are critical for determining spending and saving behaviors within an economy.

Utility Function

A mathematical representation in economics that quantifies the satisfaction or happiness a consumer derives from consuming goods and services.

Tape Recorder

An electronic device used for recording sound on magnetic tape and subsequently playing back the recorded audio.