Question
Which of the following statements is true regarding mutual agency for a partnership? Question options: If one partner wants to buy equipment for the business,
Which of the following statements is true regarding mutual agency for a partnership?
Question options:
| If one partner wants to buy equipment for the business, she must get the approval of the other partners. |
| If one partner signs for a loan (note payable) on behalf of the partnership, all of the partners can be held responsible for repaying the loan. |
| Whichever partner signs the lease for the building rented to operate the partnership from must be the person to pay the monthly rent. |
| A customer signs a contract for services with one of the partners who represents the partnership. Only that partner can fulfil the contract. |
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