Ed, Vivian, and Pablo enter a partnership. Identify the source of the duties among the partners and whether these can be waived or varied. Name the principal duties Ed, Vivian, and Pablo have to each other and to the partnership
The partnership agreement and statutes are the sources of partners' duties. Except as otherwise provided by the RUPA, the partnership agreement governs relations among the partners and between the partners and the partnership. However, certain duties are mandatory under the RUPA and these cannot be waived or varied by the partnership agreement. The principal legal duties imposed on partners in relations with each other are: (a) the fiduciary duty, or duty of loyalty; (b) the duty of obedience; and (c) the duty of care. Included in the partner's duty of loyalty under the RUPA is a duty to refrain from self-dealing and from competing with the partnership and also a duty to account to the partnership and hold as trustee for it any property, profit, or benefit derived by the partner in conducting or winding up the partnership business..
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Indicate whether the statement is true or false
A company providing maintenance services on equipment for a fixed periodic fee would recognize
a. an equal amount of service revenue for each act. b. service revenue over the fixed period by the straight-line method. c. service revenue in proportion to the direct costs to the provider of the services to perform each act. d. service revenue only when the fixed period has ended.
A project cost baseline is also called ________.
Fill in the blank(s) with the appropriate word(s).
Baker's Hut is a coffee house based in Atlanta, Georgia. The proprietor of Baker's Hut has set out
a list of objectives for the establishment to achieve. Which of the following qualifies as a time-based objective under the S.M.A.R. T objective framework? A) "Expand the range of our menu offerings by the end of the calendar year." B) "Provide training and opportunities for the staff to improve their skills." C) "Establish a minimum of four Baker's Hut coffee houses in Atlanta through a franchise model." D) "Become the preeminent coffee house in the city through a robust commitment to quality."