Top Posters
Since Sunday
w
3
w
3
e
3
3
r
3
2
b
2
M
2
V
2
f
2
c
2
c
2
Home Q & A Board Other Fields Homework Help Business
New Topic  
goji.go goji.go
wrote...
Go to Answer
Posts: 5977
Rep: 293 0
11 years ago
Jaden and Noel are starting a computer repair business together. Jaden insists on outlining rules for the departure of partners in the partnership agreement, although Noel does not think it is necessary. Which of the following statements might Jaden use to explain his insistence to Noel?
A) Provisions to remove a partner's ownership interest are necessary so the business would not have to end.
B) Determining the allocation of profits to new, junior partners is important to eliminate future potential conflicts.
C) Responsibilities must be clearly delineated to avoid the possibility of one partner overstepping his or her bounds.
D) As the partnership matures and ages, defining how profits and losses will be distributed must be made.
E) In a partnership of two, where the possibility of a deadlock is likely, we should provide for a trusted associate to act as an acting third "partner" whose sole responsibility is to be the tiebreaker.
Read 3106 times
2 Replies
Diesel
Replies
bbb
wrote...
#1
11 years ago
A) The departure of partners is one of several points that should be covered in a partnership agreement. It is likely that over time, the composition of partners will change; stipulations should be made in advance that clearly outline how this event will be handled.
Answer accepted by topic starter
goji.go Authorgoji.go
wrote...
#2
Top Poster
Posts: 5977
Rep: 293 0
11 years ago
Sign in or Sign up in seconds to unlock everything for free
1
Diesel

Related Topics
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1344 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 378
  
 347
  
 4519
Your Opinion
Who will win the 2024 president election?
Votes: 119
Closes: November 4
Previous poll results: What percentage of nature vs. nurture dictates human intelligence?