1. Where there is no agreement in a limited partnership regarding the allocation of profits, how are they allocated?
A. Equally among all the partners
B. One-half equally among the general partners: one half equally among the limited partners
C. Among all partners, in proportion to capital invested in the partnership
D. One-half among limited partners in proportion to capital invested and one half among general partners in proportoin to capital invested
E. Base upon the profits generated by each partners
2. Construct a moral argument for the following issue/statement:
People need to pass a driving test to get a license to drive a car. People should also have to take a test and get a license before they can become a parent. After all, parenting is a greater responsibility and requires more skill than driving.
Using your assigned textbook reading as guidance, your completed assignment should be thorough and well-thought out. Substantiate your answers with facts; don’t just respond with your “opinions.”