{"id":51561,"date":"2024-04-15T23:26:36","date_gmt":"2024-04-15T23:26:36","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=51561"},"modified":"2024-04-15T23:26:36","modified_gmt":"2024-04-15T23:26:36","slug":"which-of-the-following-are-correct-regarding-rights-of-partners-1-a-partner-has-the-right-to-allow-the-admission-of-a-new-partner-2-every-partner-has-a-right-to-take-part-in-the-management-of-busi","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-are-correct-regarding-rights-of-partners-1-a-partner-has-the-right-to-allow-the-admission-of-a-new-partner-2-every-partner-has-a-right-to-take-part-in-the-management-of-busi\/","title":{"rendered":"Which of the following are correct regarding rights of partners? 1. A partner has the right to allow the admission of a new partner. 2. Every partner has a right to take part in the management of business. 3. Every partner has a joint ownership of partnership property. 4. Every partner has a right to share the profit not the losses with other partners. 5. Every partner has a right to inspect the books of account and have a copy of the same. 6. In case of emergency, a partner has a right to act as a man of prudence. Select the correct answer:"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a9760821423c\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    1, 2, 3, 4                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    2, 3, 4, 6                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    3, 4, 5, 6                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"true\">\r\n                    2, 3, 5, 6                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>D. 2, 3, 5, 6<\/strong><\/p>\n<ul>\n<li><strong>2. Every partner has a right to take part in the management of business.<\/strong> This is a general rule, but it can be modified by the partnership agreement. For example, the agreement may state that only certain partners have the right to manage the business.<\/li>\n<li><strong>3. Every partner has <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> a joint ownership of partnership property.<\/strong> This means that all partners own all of the partnership property, and each partner has an equal right to use and enjoy it. However, the partnership agreement may specify how the property is to be used and enjoyed.<\/li>\n<li><strong>5. Every partner has a right to inspect the books of account and have a copy of the same.<\/strong> This right is important because it allows partners to see how the business is being run and to make sure that their interests are being protected.<\/li>\n<li><strong>6. In case of emergency, a partner has a right to act as a man of prudence.<\/strong> This means that a partner can take action to protect the partnership&#8217;s interests, even if it means going against the partnership agreement. However, the partner must act in good faith and must not exceed the scope of their authority.<\/li>\n<\/ul>\n<p>The other options are incorrect because they are not always true. For example, a partner does not always have the right to allow the admission of a new partner. This right can be reserved to certain partners or <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> to a majority of the partners. Additionally, a partner does not always have the right to share the profits of the business. This right can be limited by the partnership agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following are correct regarding rights of partners? 1. A partner has the right to allow the admission of a new partner. 2. Every partner has a right to take part in the management of business. 3. Every partner has a joint ownership of partnership property. 4. Every partner has a right to share the profit not the losses with other partners. 5. 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A partner has the right to allow the admission of a new partner. 2. Every partner has a right to take part in the management of business. 3. Every partner has a joint ownership of partnership property. 4. Every partner has a right to share the profit not the losses with other partners. 5. Every partner has a right to inspect the books of account and have a copy of the same. 6. In case of emergency, a partner has a right to act as a man of prudence. 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A partner has the right to allow the admission of a new partner. 2. Every partner has a right to take part in the management of business. 3. Every partner has a joint ownership of partnership property. 4. Every partner has a right to share the profit not the losses with other partners. 5. Every partner has a right to inspect the books of account and have a copy of the same. 6. In case of emergency, a partner has a right to act as a man of prudence. 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A partner has the right to allow the admission of a new partner. 2. Every partner has a right to take part in the management of business. 3. Every partner has a joint ownership of partnership property. 4. Every partner has a right to share the profit not the losses with other partners. 5. Every partner has a right to inspect the books of account and have a copy of the same. 6. In case of emergency, a partner has a right to act as a man of prudence. 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