Which of the Following Statements Is True About the Formation

question 50

Multiple Choice

Which of the following statements is true about the formation of a general partnership?

• A) The most important factor in determining coownership is whether the parties share the business's profits and management responsibility.
• B) Nonpartners of a partnership concern are usually given the right to share in a business's profits.
• C) The right to participate in the management of a business is conclusive evidence of the existence of a general partnership.
• D) An agreement to share losses of a business is not a compelling evidence of the existence of a general partnership.

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