In small partnerships of 10 or fewer partners,the partnership agreement often requires unanimous partners' agreement for many actions,such as hiring employees and making large contracts.In small partnerships,this is an important requirement because:

A) these actions have a greater impact on each partner.
B) partners of a small partnership typically have more monetary assets at stake.
C) it keeps control within the partnership.
D) it ensures that a single partner will not try to exercise complete control.

Question

Vishal Gupta · Accepted Answer

Final Answer : A, Explanation :  In small partnerships of 10 or fewer partners,the partnership agreement often requires unanimous partners' agreement for many actions,such as hiring employees and making large contracts.In small partnerships,these and other actions have a greater impact on each partner.

Definitions

Learning Objectives

Learning Objectives

Related questions