In a general partnership, if one partner's actions cause the firm losses, then _____.
(A) Only that partner has absolute control over the firm's actions.
(B) All of the general partners suffer.
(C) Only that partner is liable.
(D) There is no impact on any of the partners.
Ans: (B) All of the general partners suffer.
Business
You might also like to view...
In Kantian ethics, the principle of inconsistency postulates treating all ethical cases differently
Indicate whether the statement is true or false
Business
If you choose to buy shares of stock and leave the shares with your broker in street name, then the brokerage firm becomes the beneficiary owner and you become the owner of record
Indicate whether the statement is true or false.
Business