2. Management Flashcards by Jerek Hart | Brainscape

Q

How many votes do partners have?

A

Equal votes

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Q

How many votes are required to pass decisions in the ordinary course of business?

A

Majority vote

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Q

How many votes are required to pass decisions outside the ordinary course of business?

A

Unanimous vote

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Q

How much profits are partners entitled to?

A

Equal profits

According to agreement

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Q

How much losses are partners liable for?

A

Proportionate to profits

According to agreement

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