A partner of a firm that leases residential property to college students allows his daughter to live in a partnership-owned apartment.Based on this situation,this partner:

A) has a duty to relinquish his management rights for misusing partnership property.
B) has a duty to account for the use of partnership property.
C) has a duty to return the personal profits secured through this transaction.
D) has a right to be indemnified for payments made from his personal funds.

The payback period is defined as:

A) initial investment / annual cash inflow.
B) annual cash inflow / initial investment.
C) initial investment / useful life of investment.
D) initial investment / present value of the cash flows, exclusive of initial investment.