Which of the Following Is Correct with Respect to Partnership

question 122

Multiple Choice

Which of the following is correct with respect to partnership?

• A) Partnership is a separate legal entity.
• B) A partnership can be made up of only limited partners.
• C) Partners are not agents for each other.
• D) General partners have unlimited liability.
• E) General partners have limited liability.

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Definitions:

Acquired Needs Theory

A psychological theory that suggests human needs can be acquired or learned through life experiences.

Need For Power

A psychological drive that expresses itself in the desire to control or influence others.

Felt Positive Equity

A perception by individuals that their ratio of contributions to rewards in a relationship or situation is fair and beneficial compared to others.

Work Inputs

The efforts, skills, knowledge, and competencies that employees bring to a job or task in order to achieve the desired outputs or results.