Author Question: James was a partner in a large firm. He died unexpectedly. His son, Frank, wanted to take over for ... (Read 95 times)

student77 · **on:** Jun 24, 2018

James was a partner in a large firm. He died unexpectedly. His son, Frank, wanted to take over for his father in the partnership and was well qualified to do the work his father had done. Which statement best describes Frank's rights in the partnership if he inherits the interest?
A)Frank has a right to take over for his father in the partnership.
B)Frank is entitled to the value in the partnership, but not to become a full partner.
C)Frank has no rights to his father's partnership interest.
D)Frank cannot be a full-fledged partner, but he can vote on firm matters.

Question 2

The phrase to describe when a foreign government's import regulations are not made readily available to the public or are hidden or disguised in bureaucratic rules or practices is:
A) not transparent.
B) unfair trade practices.
C) bureaucratic procrastination.
D) limited access.