Question

Eduardo and Larson enter into a partnership agreement to sell gourmet dog biscuits, but they do not specify how long it will last. Consequently, it will end: From the list below, which is NOT an ordinary right of partners in a general partnership?

Answer 1

Answer:

Eduardo and Larson enter into a partnership agreement to sell gourmet dog biscuits, but they do not specify how long it will last. Consequently, it will end: whenever Eduardo, Larson or both of them decide to end it.

From the list below, which is NOT an ordinary right of partners in a general partnership?

• management
• dividends
• representation
• joint ownership

Partnerships do not distribute dividends, only corporations distribute dividends. Partners are pass-through entities, that means that they are not taxed, the partners are taxed.