Which of the Following Statements Is True of General Partnership

question 66

Multiple Choice

Which of the following statements is true of general partnership?

• A) A business should make a profit in order to qualify as a general partnership.
• B) The general partners need not be the co-owners of the business.
• C) Charity organizations and schools are mostly formed from general partnerships.
• D) A general partnership can be either oral or implied from the conduct of the parties.

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Definitions:

Observational Learning

The process of learning by observing the behaviors of others and the outcomes of those behaviors.

Retains

The ability to keep or hold onto something, such as employees retaining their jobs or customers retaining loyalty to a brand.

Vividness

Vividness describes the intensity or clarity of something, making it stand out in memory or perception due to its brightness, distinctiveness, or detail.

Cognitive Technique

Methods or strategies employed to improve mental processes such as learning, memory, and problem-solving.