Selections, a partnership, operates a gift shop. Selections has five partners. Tony has a one-third interest in the partnership. Each of the other partners has a one-sixth interest. With respect to management decisions

Question

Selections, a partnership, operates a gift shop. Selections has five partners. Tony 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

Since there are five partners in the partnership, a majority would mean at least three out of the five partners must agree for a management decision to be made. Therefore, A is the best choice. Tony, as a one-third partner, does not hold a controlling interest in the partnership. There is no mention of a senior partner, and four out of five partners agreeing would also not constitute a majority.

Selections, a Partnership, Operates a Gift Shop