Question

Unless otherwise stated in the partnership agreement, all partners have a right to participate equally in the _______________ of the partnership. Even if one partner has an unusually large proportion of the management duties, each partner has one vote in determining how the partnership is managed.While most decisions are made by majority vote, some decisions require agreement by all partners (voting to change something in the partnership agreement, or to admit a new partner, or to alter the nature of the firm's business)

Answer 1

right to share the management

Step-by-step explanation:

All the partners in a general partnership have equal right:

1. to share the management of the partnership: unless previously stated, all the partners have the same right to participate in the management of the partnership.
2. to share the profits of the partnership: unless previously stated, the partnership's profits are divided equally among the partners.
3. to share the losses of the partnership: unless previously stated, the partnership's losses are divided in the same way as the profits were divided.