Question

Resort Gift Shop is operated as a partnership, with four partners. Shan has a 40% interest in the firm. Each of the other partners has a 20% interest. Thieu is the senior partner. With respect to management decisions a. unanimous consent is required in all management decisions. b. Shan rules. c. Thieu decides. d. a majority of the partners must agree.

Answer 1

According to economic definitions, in a partnership, a majority of the partners must agree, so the answer is D.

In a partnership, two or more persons combine their property, become co-owners of the established enterprise, jointly manage production and property, distribute profits and bear responsibility in accordance with their shares.

Depending on the size of the contributed share, the owners proportionally receive profit from the activities of the partnership and have the corresponding number of votes.

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Answer 2

Answer:

d. a majority of the partners must agree.

Explanation:

Resort Gift Shop is operated as a partnership, with four partners. Shan has a 40% interest in the firm. Each of the other partners has a 20% interest. Thieu is the senior partner. With respect to management decisions a majority of the partners must agree.