Mr.W, Mr.X, Mrs.Y and Ms.Z organized a general partnership with W and X as industrial partners and Y and Z as capitalist partners. Y contributed P500,000.00 and Z contributed P200,000.00 to the common fund. By a unanimous vote of the partners, W and X were appointed managing partners, without any specification of their respective powers and duties. A applied for the position of Secretary and B applied for the position of Accountant of the partnership. The hiring of A was decided upon by W and X, but was opposed by Y and Z. The hiring of B was decided upon by W and Z, but was opposed by X and Y. Who of the applicants should be hired by the partnership?
Mr.W, Mr.X, Mrs.Y and Ms.Z organized a general partnership with W and X as industrial partners and Y and Z as capitalist partners. Y contributed P500,000.00 and Z contributed P200,000.00 to the common fund. By a unanimous vote of the partners, W and X were appointed managing partners, without any specification of their respective powers and duties. A applied for the position of Secretary and B applied for the position of Accountant of the partnership. The hiring of A was decided upon by W and X, but was opposed by Y and Z. The hiring of B was decided upon by W and Z, but was opposed by X and Y. Who of the applicants should be hired by the partnership?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mr.W, Mr.X, Mrs.Y and Ms.Z organized a general partnership with W and X as industrial partners and Y and Z as capitalist partners. Y contributed P500,000.00 and Z contributed P200,000.00 to the common fund. By a unanimous vote of the partners, W and X were appointed managing partners, without any specification of their respective powers and duties.
A applied for the position of Secretary and B applied for the position of Accountant of the partnership.
The hiring of A was decided upon by W and X, but was opposed by Y and Z.
The hiring of B was decided upon by W and Z, but was opposed by X and Y.
Who of the applicants should be hired by the partnership?
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