Partnership agreement restricting the extension

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Reference no: EM131722966

1. Jim, a partner in the Brand Partnership, in violation of a specific term in the partnership agreement restricting the extension of credit of more than $5,000 without the written consent of all the partners, extends credit of $6,500 to Brittany. Jim has violated the duty of:

a. obedience, but he cannot be held personally liable for the unpaid portion of the debt.

b. care because he owed the partnership a duty to act in good faith.

c. loyalty, and he is therefore personally liable to the partnership for $6,500.

d. obedience, and he can be held personally liable to his partners for any unpaid portion of the $6,500.

2. The servant leader shows commitment to people through _______, _______, and _______.

Access; communication; support

Training; development; education

Recruitment; selection; reinforcement

Wages; benefits; promotion

None of these

3. In the years since World War II, the American workplace has become more:

A. Isolated

B. Hierarchical

C. Exclusive

D. Participative

E. Paternal

4. "Open Book" is a term used to describe:

A. An accounting principle

B. A writing technique

C. An approach to management

D. A rule in marketing

5. The three things every employee needs to know and leaders should be accountable to be sure they do know are:

1) What is the grand plan - where is the organization going?

2) What is expected of them personally, and why?

3) How are they doing - what are they doing well and what can they do to improve?

True

False

6. is the essential character of most effective leaders, and the style is _______.

A. Autocratic; directive

B. Expletive; manipulative

C. Democratic; inclusive

D. Free-rein; non-directive

E. None of these

7. How much time on average would a server need to spend on a customer to achieve a service rate of 20 customers per hour?

Average service time minutes

8. Which of the following are significant ways in which service systems differ from manufacturing systems? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)

The process is part of the product

Service is tangible

Employees do not require any technical training

You cannot inventory service

The service itself cannot be patented

Reference no: EM131722966

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