Vern is one of three partners in Waffles Food Truck. Concerning all aspects of the partnership business, Vern is entitled to information
a. on a complete basis.
b. only on an "as needed" basis.
c. only for a reasonable purpose.
d. only related to the partner's capital contribution.

Question

06-12-2022
Law

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Vern is one of three partners in Waffles Food Truck. Concerning all aspects of the partnership business, Vern is entitled to information
a. on a complete basis.
b. only on an "as needed" basis.
c. only for a reasonable purpose.
d. only related to the partner's capital contribution.

Respuesta :

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charithran8975 charithran8975 · Answer 1 · 2022-12-08T03:30:13+01:00

Option a is correct. Concerning all aspects of the partnership business, Vern is entitled to information on a complete basis.

Good business partners assist one another and are less likely to break under pressure when working together than they are when working alone. According to data from the U.S. Small Business Administration, corporations with multiple owners actually have a better chance of surviving their first five years than sole proprietorships. General partnerships (GP), limited partnerships (LP), limited liability partnerships (LLP), and family limited partnerships are a few examples of common commercial partnerships (FLP).

However, sole proprietorships account for more than 70% of all firms, making them more prevalent than partnerships. That's because strong partnerships can be challenging to form, despite their strength.

To know more about partnerships click here:

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Vern is one of three partners in Waffles Food Truck. Concerning all aspects of the partnership business, Vern is entitled to information a. on a complete basis. b. only on an "as needed" basis. c. only for a reasonable purpose. d. only related to the partner's capital contribution.

Respuesta :

Otras preguntas

Vern is one of three partners in Waffles Food Truck. Concerning all aspects of the partnership business, Vern is entitled to information
a. on a complete basis.
b. only on an "as needed" basis.
c. only for a reasonable purpose.
d. only related to the partner's capital contribution.