In which of the following situations has the duty between partners NOT been breached?
A) Tom, Dick, and Harry have a partnership in a restaurant business in Winnipeg. Harry opens up a restaurant in Winnipeg as a sole proprietorship.
B) Tom, Dick, and Harry have a partnership in a restaurant business in Winnipeg. Harry is the major shareholder in a corporation that sets up a restaurant in Winnipeg.
C) Tom, Dick, and Harry have a partnership in a restaurant business in Winnipeg. Unknown to Tom and Dick, Harry owns 50% of the shares in the company that supplies the restaurant with its food supplies.
D) Tom, Dick, and Harry have a partnership in a restaurant business in Winnipeg. Harry, unknown to the others partners, creates a catering business during the evening using the restaurant facilities.
E) All situations involve a breach
E
You might also like to view...
An advertisement in a trade magazine targeted toward veterinarians urges them to prescribe the drug Hepato for cats and dogs with damaged livers
This advertisement was placed by the product's manufacturer. This advertisement is an example of how manufacturers use a(n)__________strategy. Fill in the blanks with correct word.
Grubbies, a popular fast-food restaurant, spends $75,000 on redesigning its interiors and modifying its ambience. In this scenario, the expenses that the restaurant incurs from refurbishing its appearance exemplify cash flows from:
A. investing activities. B. financing activities. C. operating activities. D. manufacturing activities.
Explain the cost structure of the air carriers
Consider the following list of accounts:Accounts PayableCashPrepaid RentCommon StockSalaries PayableEquipmentSuppliesRent ExpenseHow many of these accounts have a normal credit balance?
A. Two. B. Three. C. Four. D. Five.