Admitting a Partner into a Business
6 Questions
0 Views

Admitting a Partner into a Business

Created by
@FeatureRichIolite4233

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is typically required for the admission of a partner?

  • Unanimous consent of existing partners (correct)
  • Consent from the new partner only
  • Majority vote of existing partners
  • Approval from the government

    • What is the purpose of an admission of a partner?

  • To restructure the business organization
  • To formally include a new partner in a business (correct)
  • To dissolve a partnership
  • To create a new business entity

    • What potential impact can the admission of a partner have on the business?

  • Automatic increase in business revenue
  • No impact on the business operations
  • Change in profit sharing and decision-making (correct)
  • Decrease in business liabilities

    • Admission of a partner requires the unanimous consent of all existing partners.

    <p>False</p> Signup and view all the answers

    Admission of a partner may result in additional capital infusion into the business.

    <p>True</p> Signup and view all the answers

    The purpose of an admission of a partner is to bring in new skills, expertise, and resources to the business.

    <p>True</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser