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Which of the following is a true statement regarding ISP?
Partnership Agreement
A contract between partners in a business venture, specifying the terms of the partnership, roles, responsibilities, and profit-sharing.
Contract Elements
Essential components required for a contract to be legally binding, including offer, acceptance, consideration, and mutual intent.
Ongoing Business
A company or an enterprise that is actively engaged in continuous operations or activities.
Partnership Act
A legal framework governing the rights, duties, and liabilities of partners in a business partnership.
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