Which One of the Following Statements Is TRUE Regarding Partnerships

question 11

Multiple Choice

Which one of the following statements is TRUE regarding partnerships?

• A) The law recognises only those partnerships that are formed by the express (written or verbal) agreement of two or more parties.
• B) A partner is liable for the torts of other partners during the ordinary course of business.
• C) If there are more than two parties in a partnership, a majority vote is not only sufficient but also a requirement in making decisions.
• D) A limited partnership is where none of the partners can be held liable beyond a certain limit.
• E) A partnership exists wherever two or more parties carry on transaction jointly.

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Definitions:

Gamma Rays

High-energy electromagnetic radiation of a very short wavelength, often produced by radioactive atoms and in astronomical phenomena.

Energy Input

The amount of energy introduced into a system or process to achieve a desired output or maintain operation.

Energy Output

The amount of energy produced by a system, process, or device.

Natural Radioactivity

The phenomenon by which certain elements spontaneously emit radiation as a result of the decay of their atomic nuclei.