Which of the Following Is a Criterion for a General

question 77

Multiple Choice

Which of the following is a criterion for a general partnership?

• A) nonprofit motive
• B) involuntary association
• C) nonparticipatory nature
• D) co-ownership

---

Definitions:

Worksheet

A document or file used for organizing and planning finances, calculations, or data analysis, often used in accounting and Excel.

Temporary Accounts

Accounts that are closed at the end of each accounting period, including revenue, expense, and withdrawal accounts.

Zero Balances

Accounts in financial statements that have no outstanding balance or value at a given point in time.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances in temporary accounts to permanent accounts, preparing the books for the next accounting period.