Asked by AZALEA RODRIGUEZ on May 31, 2024

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A partner of a partnership firm should make every effort to make decisions that are in the best interest of the firm.This is related to the concept of ________.

A) duty to serve
B) duty to act within actual authority
C) duty of care
D) duty to account

Duty to Account

An obligation to provide a detailed report of financial transactions or holdings, typically mandated in fiduciary relationships or other scenarios demanding transparency and accountability.

Best Interest

The most favorable or advantageous course of action for an individual or entity, often used in legal and financial contexts to determine what practices or decisions will most benefit the party in question.

  • Recognize the responsibilities and commitments of partners towards one another and the partnership itself.
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TD
Thuý Di?m Ngô Nguy?nJun 01, 2024
Final Answer :
C
Explanation :
In transacting partnership business,each partner owes a duty of care.This means that a partner must make an investigation before making a decision so that she has an adequate basis for making the decision.The decision she makes must be one she has grounds to believe is in the best interests of the partnership.