Which of the following is the term "partners" synonymous with regarding the agency relationship and the Partnership Act?
A) profits
B) principals
C) limits on authority
D) capital contributions

Question

Quizplus · Accepted Answer

In the context of the agency relationship and the Partnership Act, "partners" are synonymous with "principals" because each partner acts as both an agent and a principal for the partnership.

Which of the Following Is the Term "Partners" Synonymous with Regarding