Which of the following is true about partnership agreements?
A)The removal or delegation of a partner's management power eliminates that partner's apparent authority.
B)A partnership agreement may create classes of partners,some of whom may have greater voting rights.
C)In large partnerships,decisions such as hiring employees and making contracts require the unanimous agreement of all partners.
D)Unequal voting rights are often found in small partnerships.

Question

Quizplus · Accepted Answer

A partnership agreement may create classes of partners,some of which will have the power to veto certain actions.Some classes of partners may be given greater voting rights.Unequal voting rights are often found in very large partnerships,such as an accounting firm with hundreds or thousands of partners.

Which of the Following Is True About Partnership Agreements