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Question
The relation of the partner with the firm is that of ______.
Options
An Owner
An Agent
An Owner and an Agent
Manager
MCQ
Fill in the Blanks
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Solution
The relation of the partner with the firm is that of an owner and an agent.
Explanation:
A partner is an owner because they share in the profits, losses, and capital of the firm. They are also an agent because they can act on behalf of the firm and bind it in contracts with third parties.
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