Riverside,a general partnership,operates a bait-and-tackle shop.Riverside has five partners.Steve has a one-third interest in the partnership.Each of the other partners has a one-sixth interest.With respect to management decisions

Question

Riverside,a general partnership,operates a bait-and-tackle shop.Riverside has five partners.Steve has a one-third interest in the partnership.Each of the other partners has a one-sixth interest.With respect to management decisions​

Quizplus · Accepted Answer

In a general partnership, the management decisions are generally made by the partners collectively. Therefore, major decisions, such as those related to the business operations, investments, etc., usually require the majority agreement of the partners. In this case, since there are five partners, a majority would be three or more partners. Hence, choice A is the best answer. None of the other choices are relevant or accurate in this context.

Riverside,a General Partnership,operates a Bait-And-Tackle Shop