Sweet Selections,a general partnership,operates as a gift shop. Sweet Selections has ten partners. Jill and Amy each have a 25 percent interest in the partnership. All the other members have a 10 percent interest. With respect to management decisions
A)a majority of the partners must agree.
B)both Jill and Amy must agree.
C)the senior partner decides.
D)30 percent of the partners must agree.

Question

Quizplus · Accepted Answer

In a general partnership, decisions are usually made by a majority of the partners. In this case, the majority would be six out of ten partners. Therefore, option A is the best choice as it reflects the standard practice in partnerships. Options B, C, and D are not true in this scenario.

Sweet Selections,a General Partnership,operates as a Gift Shop