Skip to main content
A

Anonymous

Jan 21, 2025

Sweet selections is a general partnership that sells candy, cards and flowers. sweet selections has ten partners. jill and amy each

Sweet Selections is a general partnership that sells candy, cards, and flowers. The partnership consists of ten partners. Jill and Amy each hold a 25% ownership interest in the partnership, while the remaining partners each hold a 10% ownership interest.

To pass a management decision, which of the following is required?
a. A majority of the partners must agree to the decision.
b. Both Jill and Amy must agree to the decision.
c. Either Jill or Amy must agree to the decision.
d. 30% of the partners must agree to the decision.

0
Save

2 Answers

A
Anonymous

Feb 14, 2025

A) A majority of the partners must agree to the decisionExplanation:Generally partnerships must approve management decisions by a majority of the votes from the participating partners. Partnerships do not work like corporations where votes are assigned based on ownership stake, here each partner is assigned one vote. That means that any decision requires at least 6 votes = 50% + 1.
0
A
Anonymous

Jan 28, 2025

A. A majority of the partners must agree to the decision Explanation:Based on the scenario being described within the question it can be said that the in order to pass a management decision a majority of the partners must agree to the decision. This is due to Sweet Selection being a general partnership, which is a business in which two or more individuals own the company and share all assets, profits, and liabilities of that company. Therefore more than 50% of the partners must agree on a decision in order for it to be put into effect.
0

Want to answer this question?

Join our community to share your knowledge!

Log in Sign up

Categories

Entrepreneurship Banking

Tags

General Partnership Management Decisions

Related Questions

8
Does Wells Fargo Bank open on Sundays?

Does Wells Fargo Bank open on Sundays in Bakersfield, California, specifically at the intersection of White Lane and Gos...

1
Present and future values for different interest rates find the following values. compounding/discounting occurs annually. round your

Please find below the present and future values for different interest rates. Compounding and discounting occur annually...

5
What is a bank account nickname?

I’m trying to make my car payment online, and it’s asking for a bank account nickname. What does that mean, and what sho...

3
Why do all shareholders agree on the same goal for the financial​ manager? ?

What is the reason that all shareholders tend to agree on a common goal for the financial manager?

8
2 Points Which of the following best describes what labor directly contributes to production?

Which of the following options best describes the direct contributions of labor to production? A. Humans extract resour...

5
Career Explortion Help? (earn 10points best answer) – help soon. thx you! :?

According to the United States Business Administration, which section is considered the most crucial part of a strategi...

4
Promotional expenditures at the introduction stage of the product life cycle are best spent on A) to maintain brand loyalty or static

Promotional expenditures during the introduction stage of the product life cycle are best allocated to: A) maintaining b...

3
Presented below are selected account balances for Homer Winslow Co as of December 31, 2014. Instructions: Prepare closing entries

Presented below are selected account balances for Homer Winslow Co. as of December 31, 2014. Instructions: Prepare the...

3
On December 31, Fighting Okra Cooking Services reports the following revenues and expenses.

On December 31, Fighting Okra Cooking Services reported the following revenues and expenses.

4
Me very urgent before you decide whether to use the cost plus model, it’s important to thoroughly research a. profit margins in neighboring

Before deciding whether to use the cost-plus model, it is crucial to thoroughly research the following factors: a. profi...