Absent an agreement otherwise, upon dissolution, a partner is entitled to which of the following after payment of partnership creditors?

A) A share of profits in proportion to capital contribution
B) A share of profits based on the degree of participation in management
C) Under the UPA, repayment of his capital contribution during the winding up of the firm
D) The UPA requires that the partners have an agreement or else they must seek a court order distributing the remaining assets


C

Business

You might also like to view...

Value engineering provides value to ______.

A. customers B. employees C. boards of directors D. government agencies

Business

Answer the following statements true (T) or false (F)

1. The talk that happens around the water cooler or coffee machine at work helps establish informal communication networks. 2. Communication networks are the means through which workplace messages are transmitted between and among coworkers. 3. Workplace culture does not simply exist; it is communicatively created by its members. 4. The three levels of workplace culture are artifacts, traditions, and assumptions. 5. Any visible or tangible characteristic of a workplace that you can see, hear, or feel is referred to as an artifact.

Business

Curtain Co. paid dividends of $12,000, $17,000, and $18,000 during Year 1, Year 2, and Year 3, respectively. The company had 2300 shares of 6.5%, $100 par value preferred stock outstanding that paid a cumulative dividend. What is the total amount of dividends paid to common shareholders during Year 3?

A. $5000 B. $14,950 C. $2150 D. $2950

Business

Demonstrate your understanding of the terms internal locus of control and external locus of control by giving an example of each.

What will be an ideal response?

Business