Management (14th Edition)
14th Edition
ISBN: 9780134527604
Author: Stephen P. Robbins, Mary A. Coulter
Publisher: PEARSON
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Question
Chapter 11, Problem 18DQ
Summary Introduction
To explain:
Ways for managing a concern about the arrangement.
Introduction:
People who have the zeal to learn and are willing to work unpaid are called volunteers. These are the people who share their knowledge to earn respect.
People who are paid for any task completion are called executives. They earn for living. Earning creates a feeling of self-satisfaction.
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Students have asked these similar questions
What is a partnership? Outline the legal issues involved in the formation of a partnership. In your answer, discuss the issues that partners should consider in drafting the partnership agreement.
A partnership agreement should include all of the following EXCEPT:
(A) An indication of each partner's percentage of profits or losses.
(B) The amount of cash or property which has been contributed by each of the partners.
(C) How reimbursements for out-of-pocket expenses will be handled.
(D) The amount of each partner's salary that they will receive each year.
Is a limited partnership more likely or less likely to have a partnership agreement than a general partnership?
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- Brenden and carmen are considering forming a partnership. they need your help as to how income and lossee should be divided in their partnership.What factors should be considered in determining the division of net income or losses?arrow_forwardSuppose a partnership is set up and operated without a formal partnership agreement. What problems might arise? Explainarrow_forwardAssume that you and some of your classmates will form a partnership of some type for the sole purpose of investing in real estate. You meet at your favorite restaurant and draft an informal agreement that will be the starting point of your new entity. Write that agreement. What would be your role relative to your partners?arrow_forward
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